Periodic Inventort by Three Methods; Cost of Merchandise Sold

The units of an item available for sale during the year were as follows:

ORK tor Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory Mar. 10 Purchase Aug. 30 Purchase Dec. 12 Purchase There are 40 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 nearest whole dollar 40 units$118 50 units @ $128 10 units @ $132 100 units$136 Inventory and Cost of Merchandise Sold Cost of Inventory Method First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost Previous Next Check My Work