Lawrecast Mathod On the basis of the shown below. Inventory Cost per Market Value per Unit Trem Quantity (Net Realizable Value) CKS) 34 534 $37 V231 162 16 14 Determine the value of the inventory at the lower of cost or market. Adly lower of cost or market to each inventory tem, as shown in Periodic Inventory by Three Methods Cost of Merchandise Theofantome for sale during they were as follow Inventory sont 194 Mar 10 Purchase SO 5102 A 30 Purchase 20 100 De 12 Purchase 705110 There are out of the the physical wory December 31. The passed Determine the inventory cost and the cost of merchandior told by the methods. Hound interim calculations to one decimal and final answers to the nearest wtunde dollar Cost of Merchandise Inventory and cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Soul a. First in first-out (FFO) 120 x 120 X I. Last-not-out (FO) Weighted average cost and we were in Ad ch 200 tiet 1010 32.000 $10.00 There are other at they were (ro) method method (Route per i co to two decimal places and your awer to the rest whole dar) Four) 2,020 X I. Lartout (FO) Weighted average cos a. When the method is used costs are included in cost of merchante derin which they were used 1. When the method the cost of the old the cost of the most recent purchase The age cost this mes called the weighted average method. The average cost med hver not to defend Inventory Augi Pero entory and weighted average The of an item al forng they were Ton Inventory units 2.600 0.00 Purch 20 units 2.900 58.000 Dec 11 Purchase 10 2100 11.000 38 units $100,000 There are 16 units of them in the recebe the periodic inventory system sed Demeter (UTO) method and the weighted average cost method (oder unit cost to two decimal places and your final awer to the wester Hestest-out (FO) . Inst- (FO) Weighted average cost Penodic Inventory Using FIFO, LIFO, and weighted Average cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 8 units at $2,600 $20,800 Aug. 7 Purchase 20 units at $2,900 58,000 Dec. 11 Purchase 10 units at $3,100 31,000 38 units $109,800 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) (LIFO) method; and (c) the weighted average cost method (Round per unit cost to two decimal places and your final answer to the nearest will a. First-in, first-out (FIFO) b. Last-in, first-out (LFO) c C. Weighted average cost Feedback Lower-of-cost-ort Method On the basis of the data shown below: Cost per Inventory Market Value per Unit Item Quantity Unit (Net Realizable Value) CK3) 34 $34 $37 V231 162 16 14 Determine the value of the inventory at the lower of cost or market. Apply fower of cost or market to each inventory tem, as shown in the Periodic Inventory by Three Methods: Cost of Merchandise Sold The units of an item wible for sale during the year were as follows: Jan. 1 Inventory 50 units 594 Mar 10 Purchase 60 units 5102 Aug 30 Purche 20 units 5106 Dec 12 Purchase 70 units 5110 There are units of the item in the physical inventory December 31 The penso inventory system is used Determine the inventory cost and the cost of merchandise sold by ttvee methods. Round interim calculations to one decimal and ina answers to the nearest whole dar Cost of Merchandise Inventory and cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold furst-out CFO) 120 X 120 X bl.it-out (FO) weighted average Jan. 1 Purchase Periodic Inventory by Three Methods: Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Inventory 50 units @ $94 Mar. 10 60 units @ $102 Aug. 30 20 units @ $106 70 units @ $110 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 decimal and final answers to the Purchase Dec. 12 Purchase Cost of Merchandise Inventory and cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold a. First-in, first-out (FIFO) S 120 X 120 X b. Last-In, first-out (LIFO) c. Weighted average cost E