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?





My answer is it correct:
1000*17 = 17000
300*21 = 6300
17000+6300=23,300-800=22,500+11,500(500*23)=34,000-400=33,600
so Fifo ending balance = 22,500 doses antibiotic
Lifo ending balance = 33,600 doses of antibiotic
Help please am I right