Can somebody please create me something similar to the example below. Thank You!

Think about the inventories that you maintain at home. Indicate one example of each inventory costing method, LIFO, FIFO and Average Cost. Then indicate whether the perpetual or periodic inventory system would work best. Give a brief explanation.

As my examples:

Yogurt

• FIFO method
• Need to use oldest yogurts first so they dont spoil
• Periodic inventory system
• Low cost item

Dog Food

• Average Cost
• We maintain a container with kibbles, add new kibbles as needed and old kibbles and new kibbles get mixed together
• Perpetual inventory system
• Cant run out of kibbles, what will Tippy eat?

Clothes

• LIFO
• Like to wear new clothes when purchased, dont normally go back in the closet for clothes from years past
• Periodic
• Only review clothes inventory periodically when looking for clothes to donate.