Periodic Inventory by Three Methods Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the next 12 months, and the inventory count at December 31 are summarized as follows Model A10 B15 E60 G83 J34 M90 Q70 Required: Model A10 A10 B15 815 E60 683 J34 M90 M90 070 070 Inventory, January 1 Total Bat 3 at 7 at 12 at 2 at 5 at $ 89 75 Quantity 249 75 108 167 1st 4 at $ 3 at 6 at 10 at 2 at 4 at $ 39 80 Unit Cost 65 257 77 110 177 Dymac Appliances Cost of the Inventory-FIFO Method December 31 Purchases Invelces 2nd $ 4 at 3 at 15 at 5 at 16 at 3 at 4 at $42 86 68 267 1. Determine the cost of the inventory on December 31 by the 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 84 128 Totul Cost 182 3rd 4 at 6 at 9 at 10 at 16 at 3 at $45 93 70 266 85 130 187 Inver Dece 2. Determine the cost of the inventory on December 31 by the 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.

Peripdic tmentary by There Merinode 1. Delemine the oost of the inveriory on Decenter at by the firat if fint-eut method If the inventory of e particular model comprises one encles purchase plus a porbon of another purchase acquired at a different unt cost, use separale Ine for each purchase. If units art in inventory at two different costs, enter the units pupcrused Noss nfcenctly fint 2. Defermine the cont of the imventory on December 31 by the lard in firstout method If the invefitory of a partioular model comprites one entre purchase pibs a portion of another purchase acquired st a different unit cost use a seperate line for each purchase If units are in Irremtory at two different coats, eider the oucest unba frat 3. Determine the cost of the irventory on December 31 by the weighted dwerage cost miethod. 4a. Which inventory method would be prelerred for income tax purposes in periods of risho prices? 4b. Which inventory method would be preferred for income tax purposes in periods of declining rices? Peripdic tmentary by There Merinode 1. Delemine the oost of the inveriory on Decenter at by the firat if fint-eut method If the inventory of e particular model comprises one encles purchase plus a porbon of another purchase acquired at a different unt cost, use separale Ine for each purchase. If units art in inventory at two different costs, enter the units pupcrused Noss nfcenctly fint 2. Defermine the cont of the imventory on December 31 by the lard in firstout method If the invefitory of a partioular model comprites one entre purchase pibs a portion of another purchase acquired st a different unit cost use a seperate line for each purchase If units are in Irremtory at two different coats, eider the oucest unba frat 3. Determine the cost of the irventory on December 31 by the weighted dwerage cost miethod. 4a. Which inventory method would be prelerred for income tax purposes in periods of risho prices? 4b. Which inventory method would be preferred for income tax purposes in periods of declining rices