1. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year (end inventory). What is the amount of inventory in stock at the end of the year according to the FIFO Method? a. $1,480 b. $1,520 c. $1,582 d. $1,650 2. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year according to the LIFO Method? a. $1,520 b. $1,500 c. $1.480 d. $1,650 3. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year rounded to the nearest dollar according to the Average Cost Method? a. $1.560 b. $1,480 c. $1.582 d. $1,650 4. The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $65 Mar. 4 Purchase 40 units at $68 June 7 Purchase 25 units at $62 Nov. 15 Purchase 15 units at $60 1. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year (end inventory). What is the amount of inventory in stock at the end of the year according to the FIFO Method? a. $1,480 b. $1,520 c. $1,582 d. $1,650 2. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year according to the LIFO Method? a. $1,520 b. $1,500 c. $1.480 d. $1,650 3. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year rounded to the nearest dollar according to the Average Cost Method? a. $1.560 b. $1,480 c. $1.582 d. $1,650 4. The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $65 Mar. 4 Purchase 40 units at $68 June 7 Purchase 25 units at $62 Nov. 15 Purchase 15 units at $60