Calculate the value of ending inventory

Reference no: EM1368729

During 2003, A Company and Z Company made the following identical purchases in the order shown:

100 units @ $10.00 each
200 units @ $10.50 each
200 units @ $11.50 each
100 units @ $12.00 each

Each company sold 400 units but A Company uses LIFO inventory costing and Z Company uses FIFO inventory costing. Assume there was no beginning inventory. Calculate the value of ending inventory for both companies and the cost of goods sold for both companies.

Reference no: EM1368729

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