Periodic Inventory by Three Methods Dymac Appliances uses the periodic inventory system. Ottails 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 A10 4 at $ 27 4 at $ 30 4 at 5 B15 8 at 5.95 4 at 85 3 at 92 61 99 7 E60 3 at 69 3 at 59 15 at 62 64 5 GS 7 at 230 6 at 238 5 at 248 10 at 247 9 134 12 at 79 10 at 81 16 at 88 16 at 89 M90 2 at 123 2 at 125 33 143 Jat 145 070 Sat 159 4 at 169 174 7 at 179 8 Required: Determine the cost of the inventory on December 31 by the first in first ut method. 1. Determine the cost of the inventory on December 31 by the first in tout 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 Dymae place Cost of the Inventory-FIFO Method Model Quantity Unit Cost Total Cost A10 A10 015 GB 334 MSO M90 070 1970 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 units are in inventory at two different costs, enter the OLDEST units first. Dymac Appliances Cost of the Inventory LIFO Method December 31 Model Quantity Unit Cost Total Cost AID A10 815 E60 G83 G83 134 90 M90 M90 1970 3. Determine the cost of the inventory on December 31 by the weighted average cost method. Dymac Appliances Cost of the Inventory-Weighted Average Method December 31 Model Quantity Unit Cost Total Cost A10 B15 E60 G83 334 M90 070 Total would be preferred for income tax purposes in periods of hising prices