How to Emel Your Setor Wooly Z.cengagenow.com al packag Show Me How verk Pentole Inventory by Three Methods; Cost of Merchandise Sold Then an item available for sale during the year were as follows: 40 units 5112 Inventory Purchase 70 units 5122 Mar. 10 30 units $130 Purchase Aug. 30 60 units $136 Dec 12 Purchase There are 80 units of the item in the physical inventory at December 31. The periodic Inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. Round Interim calculations to one deci answers to the nearest whole dollar. Cost of Merchandise Inventory and Cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units @ $112 Mar. 10 Purchase 70 units @ $122 Aug. 30 Purchase 30 units @ $130 Dec. 12 Purchase 60 units @ $136 There are 80 units of the item in the physical inventory at December 31. The periodic inventory sys Determine the inventory cost and the cost of merchandise sold by three methods. Round interim answers to the nearest whole dollar. Cost of Merchandise Inventory and Cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold a. First-in, first-out (FIFO) $ b. Last-in, first-out (LIFO) c. Weighted average cost Feedback