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Periodic Inventony by Three Methods The units of an item avalable for sale during the year were as follows: Jan. 1 Inventory Feb, 17 Purchase
Periodic Inventony by Three Methods The units of an item avalable for sale during the year were as follows: Jan. 1 Inventory Feb, 17 Purchase Jul. 21 Purchase Nov. 23 purchase 4 units at $25 17 units at $27 13 units at $30 19 units at $32 a. Determine the inventory cost by the first-in, first-out method. x b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the nearest dollar.
The units of an item available for sale during the year were as follows: Jan. 1 Inventory Feb. 17 Purchase Jul. 21 Purchase Nov. 23 Purchase 4 units at $25 17 units at $27 13 units at $30 19 units at $32 a. Determine the inventory cost by the first-in, first-out method. x b. Determine the inventory cost by the last-in, first-out method. \$. c. Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the nearest dollar. $Step by Step Solution
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