8 OF 14 QUESTIONS REMAINING Jan 1 Inventory 18 units at 126 April 15 Purchase 140 units at 117 September 9 Purchase 20 units at 128 There are 49 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the last-in, first-out (LIFO) Add your answer Question 13 Copy of Copy of The units of an item available for sale during the year were as follows: Jan 1 Inventory 10 units at 122 April 15 Purchase 137 units at 117 September 9 Purchase 24 units at 127 2 Points There are 39 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the average cost method. (Round to nearest whole dollar) Add your answer Question 14 4 Points On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit below Item Inventory Quantity Unit Cost Price ($) Unit Market Price ($) MT22 1969 90 86 4WY09 23372 36 44 1GDS 7992 181 167 Last saved 11:28:35 AM