EX 6-12 Periodic inventory by three methods The units of an item available for sale during the year were as follows: Jan. 1 Feb. 17 21 July Nov. 23 Inventory Purchase Purchase Purchase 5,500 units at $4 6,400 units at $6 6,000 units at $8 2,100 units at $10 Obj. 2, 4 There are 1,500 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by the (a) first-in, first-out method, (b) last-in, first-out method, and (c) weighted average cost method.

EX 6-12 Periodic inventory by three methods The units of an item available for sale during the year were as follows: Ob). 2, 4 There are 1,500 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost by the (a) first-in, first-out method, (b) last-in, first-out method, and (c) weighted average cost method