Ending inventory unitsDecember 31 2006 100December 31 2007 by purchase dateDecem

Ending inventory unitsDecember 31 2006 100December 31 2007 by purchase dateDecember 2 2007 100July 20 2007 50 150During the year the following purchases and sales were made:Purchases SalesMarch 15 300 units at $24 April 10 200July 20 300 units at 25 August 20 300September 4 200 units at 28 November 18 150December 2 100 units at 30 December 12 200The company uses the periodic inventory method.Determine
ending inventory using dollar-value LIFO. Assume that the December 2
2007 purchase cost is the current cost of inventory. (Hint: The
beginning inventory is the base layer priced at $20 per unit.)