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Periodic tnventory by Three Methods The units of an em va for sale durmo the year were as follows: Lan 1 Inventory 4 units at 539 Feb 17 Purchase 10 units at $41 Jul 21 Purchase 1 units at 544 Nov. 23 Purchase 20 units at 545 There are 14 units of the item in the physical inventory at December 31. The periodic Inventory system is used. Round average unit cost to two decimals and final answers to the nearest whole dollar if required .. Determine the inventory cost by the first in, first cut method 530 . Determine the inventory cost by the lost in trut-out method Determine the inventory cost by the weighted average cost method. x WWW Note that this cases the periodic inventory system FIFO means that the first is purchased are assumed to be the first to be sold. Therefore, ending inventory costs for the period are calculated by taking the number of home remaining in the physical inventory times the most recent purchase price. If the number of them is fast purchase layer is less than the number and none of the ending inventory lame must be recorded at the second most recent orche cost. The cost of goods sold for the period can be calculated by Next more Check My Work temaning