FIFO and LIFO:Explain the advantages and disadvantages of FIFO and LIFO inventory methods

Analyze the following scenario: 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 does 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?  Clearly label the calculations of the inventory amounts using Excel.  Use formulas to calculate the FIFO and LIFO inventories and format the cells to insert a comma if there is more than three numbers and round to the nearest whole number.

Explain the advantages and disadvantages of FIFO and LIFO inventory methods and evaluate the best inventory method is best for this scenario.

Submit to your instructor your two to three page Word document (not including the title and reference pages) and your Excel worksheet. Your paper should be formatted according to APA style as outlined in the approved APA style guide, and you must cite at least two scholarly sources in addition to the textbook

Are you looking for a similar paper or any other quality academic essay? Then look no further. Our research paper writing service is what you require. Our team of experienced writers is on standby to deliver to you an original paper as per your specified instructions with zero plagiarism guaranteed. This is the perfect way you can prepare your own unique academic paper and score the grades you deserve.

Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.

[order_calculator]