What is the value assuming lifo

Reference no: EM13288036

The Hospital for Ordinary Surgery uses pharmaceuticals for its patients. It started the year on January 1, with an inventory of 1,000 doses of an antibiotic drug that cost $17 per dose. On January 2, it purchased another 300 doses for $21 each. From January 3 through June 30 it used 800 doses. On July 1 it bought 500 more doses at $23 each. From July 2 through the end of the year it used 400 doses. What is the inventory value at the end of the year assuming FIFO? What is the value assuming LIFO?

Reference no: EM13288036

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