Periodic Inventory by Three Methods

Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2015, purchases invoices during the next 12 months, and the inventory count at August 31, 2016, are summarized as follows:

Purchases Invoices
Model	Inventory, September 1		1st		2nd		3rd		Inventory Count, August 31
AZ09	__		4 at	$ 38	4 at	$ 41	4 at	$ 44	5
GA85	8 at	$ 84	4 at	75	3 at	81	6 at	88	7
HI71	3 at	75	3 at	65	15 at	68	9 at	70	5
KS32	7 at	210	6 at	218	5 at	228	10 at	227	9
MS17	12 at	73	10 at	75	16 at	82	16 at	83	13
ND52	2 at	124	2 at	126	3 at	144	3 at	146	5
WV63	5 at	165	4 at	175	4 at	180	7 at	185	8

Required:

1. Determine the cost of the inventory on August 31, 2016, by the The method of inventory costing based on the assumption that the costs of merchandise sold should be charged against revenue in the order in which the costs were incurred.first-in, first-out method.

If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units PURCHASED MOST RECENTLY first.

Bulldog Appliances Cost of the Inventory-FIFO Method August 31, 2016
Model	Quantity		Unit Cost		Total Cost
AZ09		$		$
AZ09
GA85
GA85
HI71
KS32
MS17
ND52
ND52
WV63
WV63
Total				$

2. Determine the cost of the inventory on August 31, 2016, by the A method of inventory costing based on the assumption that the most recent merchandise inventory costs should be charged against revenue.last-in, first-out method.

If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the OLDEST units first.

Bulldog Appliances Cost of the Inventory-LIFO Method August 31, 2016
Model	Quantity		Unit Cost		Total Cost
AZ09		$		$
AZ09
GA85
HI71
HI71
KS32
KS32
MS17
MS17
ND52
ND52
ND52
WV63
WV63
Total				$

3. Determine the cost of the inventory on August 31, 2016, by the weighted average cost method.

Bulldog Appliances Cost of the Inventory-Weighted Average Method August 31, 2016
Model	Quantity		Unit Cost		Total Cost
AZ09		$		$
GA85
HI71
KS32
MS17
ND52
WV63
Total				$