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Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1

Periodic inventory by three methods; cost of goods sold
The units of an item available for sale during the year were as follows:
Jan. 1 Inventory
50 units at $98
Mar. 10 Purchase 50 units at $110
Aug. 30 Purchase 30 units at $118
Dec. 12 Purchase 70 units at $122
There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.
Cost of Ending Inventory and Cost of Goods Sold
First-in, first-out (FIFO)
Last-in, first-out (LIFO)
Weighted average cost
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