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 11 are summarired as fotos Purchases Invoices Model Inventory 1st 2nd 3rd January 1 A10 4 at $ 304 334 at $ 36 B15 at $95 at 86 Ja 926 at 99 160 Jat 72 Ja 62 15 at 65 9 at 67 683 7 at 225 6 233 Sat 243 10 at 242 134 12 at 8410 at 86 16 at 03 16 at 04 M90 2 at 117 2 119 3a 137 at 139 070 5 at 166 4 at 176 4 at 1817 at 186 Inventory Count, December 31 5 7 5 13 5 Required: 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 in at two different costs, enter the units PURCHASED MOST RECENTLY first Dymac Appliances Cost of the Inventory-FIFO Method December 31 Model Quantity Unit Cost Total Cost A10 $ A10 315 B15 E60 G83 334 M90 M90 1970 070 If the inventory of a particular modernisone entire purchase portion of another purchased there to separate for each purchase Determine the cost of the inventory on December 31 by the last stort method. units are in inventory at two different couts, enter the OLDEST units first Dymac Appliances Cost of the Inventory-LIPO Method December 31 Model Quantity Unit Cost Total Coat A10 A10 815 EGO E60 683 683 234 M90 M90 M90 070 970 Total 3. Determine the cost of the inventory on December I by the weighted average cost method. Dymac Appliances Cost of the Inventory Weighted Average Method December 31 Unit Cost Total Cost Model Quantity A10 $ 015 E60 G83 134 M90 1970 Total 4a. Which inventory method would be preferred for income tax purposes in periods of rising prices? 4b. Which inventory method would be preferred for income tax purposes in periods of declining prices? 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 11 are summarired as fotos Purchases Invoices Model Inventory 1st 2nd 3rd January 1 A10 4 at $ 304 334 at $ 36 B15 at $95 at 86 Ja 926 at 99 160 Jat 72 Ja 62 15 at 65 9 at 67 683 7 at 225 6 233 Sat 243 10 at 242 134 12 at 8410 at 86 16 at 03 16 at 04 M90 2 at 117 2 119 3a 137 at 139 070 5 at 166 4 at 176 4 at 1817 at 186 Inventory Count, December 31 5 7 5 13 5 Required: 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 in at two different costs, enter the units PURCHASED MOST RECENTLY first Dymac Appliances Cost of the Inventory-FIFO Method December 31 Model Quantity Unit Cost Total Cost A10 $ A10 315 B15 E60 G83 334 M90 M90 1970 070 If the inventory of a particular modernisone entire purchase portion of another purchased there to separate for each purchase Determine the cost of the inventory on December 31 by the last stort method. units are in inventory at two different couts, enter the OLDEST units first Dymac Appliances Cost of the Inventory-LIPO Method December 31 Model Quantity Unit Cost Total Coat A10 A10 815 EGO E60 683 683 234 M90 M90 M90 070 970 Total 3. Determine the cost of the inventory on December I by the weighted average cost method. Dymac Appliances Cost of the Inventory Weighted Average Method December 31 Unit Cost Total Cost Model Quantity A10 $ 015 E60 G83 134 M90 1970 Total 4a. Which inventory method would be preferred for income tax purposes in periods of rising prices? 4b. Which inventory method would be preferred for income tax purposes in periods of declining prices