Analyze the following scenario: TheHospital for Ordinary Surgery uses pharmaceut

Analyze the following scenario: TheHospital for Ordinary Surgery uses pharmaceuticals for itspatients. It startedthe year on January 1 with an inventory of 1000 doses of anantibiotic drugthat cost $17 per dose. On January 2 it purchased another300 does for $21each. From January 3 through June 30 it used 800 doses. On July 1it bought 500more doses at $23 each. From July 2 through the end of theyear it used 400doses. What is the inventory value at the end of the yearassuming FIFO? Whatis the value assuming LIFO? Clearly label the calculations ofthe inventoryamounts using Excel. Use formulas to calculate the FIFO andLIFO inventoriesand format the cells to insert a comma if there is more than threenumbers andround to the nearest whole number.