EX 6-3 Perpetual inventory using FIFO Obj. 2, 3 ginning inventory, purchases, and sales data for DVD players are as follows November 1 Inventory Sale 10 15 Purchase 20 Sale 24 30 120 units at $39 90 units 140 units at $40 110 units 45 units 160 units at $43 Sale Purchase The business maintains a perpetual inventory system, costing by the first-in, first-out method. A. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3 B. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? EX 6-12 Periodic inventory by three methods The units of an item available for sale during the year were as follows: Obj.2 0 Jan. 1 Inventory 1,000 units at $15 Feb. 17 July 21 Nov. 23 Purchase1,375 units at $16 Purchase1,500 units at $17 Purchase1,125 units at $18 Chapter 6 Inventories 321 There are 1,100 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 6-13 Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Obj. 2,4 Jan. 1 Mar. 10 Aug. 30 Dec. 12 Inventory Purchase Purchase Purchase196 units at $120 180 units at $108 224 units at $110 200 units at $116 There are 208 units of the item in the physical inventory at December 31. The periodic inven- tory system is used. Determine the ending inventory cost and the cost of goods sold by three methods, presenting your answers in the following form: Ending Inventory Cost of Goods Sold Inventory Method A. First-in, first-out B. Last-in, first-out C. Weighted average cost