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: Purchases Invoices Model Inventory January 1 1st 2nd 3rd Inventory Count, December 31 5 7 ALD 437 B15 3 95 160 at 50 15 at 61 9 218 SM 228 227 G83 334 10 16 10 66 16 at 74 13 129 M90 070 8 $90 at 210 12 54 2 109 2 $# 170 4100 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 inventory at two different costs, enter the units PURCHASED MOST RECENTLY first. Dyme Appliances Cost of the Inventory-Pro Method Decem Quantity Tatai Cur 37 * * Model A10 AIO 52 615 67 91 315 EGO GS 130 13 M90 3 M90 070 970 Total 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 Chap 7 Homework RO 1970 970 Total 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. De Appliane. cout of the inventory Laro Method Quant Unit Cast Total Cast AID JAID JO 360 2 14 12 14 1 MO 2 MBO 2 MIO 970 1970 Total 3. Determine the cost of the inventory on December 31 by the weighted average cost method. Dar Appliances cost of the intentary Weight Arras Method Unit C Total Cust NO 015 1860 5 134 13 MO 970 Total 6,116 LIFOX would be preferred for income tax purposes in periods of rising prices