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3. Periodic methods (5 points each-total 15 points) The units of an item available for sale during the year were as follows: Feb. 1 Inventory

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3. Periodic methods (5 points each-total 15 points) The units of an item available for sale during the year were as follows: Feb. 1 Inventory 2,600 units at $4 Mar. 27 Purchase 2,900 units at $5 Aug 21 Purchase 3,300 units at $6 Dec. 23 Purchase 1,200 units at $7 Ending inventory -2825 units. Show all your work for full credit include units and dollar amounts 1. Determine the ending inventory dollar amount using FIFO 2. Determine the ending inventory dollar amount using LIFO 3. Determine the ending inventory dollar amount using AVERAGE COST METHOD

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