Periodic Inventory by Three Methods

Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows Jan. 1 Inventory 1,000 units$120 1,375 units @ $121 Jul. 21 Puchase 1,645 units $122 1,150 units $124 Feb. 17 Purchase Nov. 23 Purchase There are 1,225 units of the item in the physical inventory at December 31. The periodic inventory system is used. Do not round intermediate calculation and round final answer to nearest whole value. a. Determine the inventory cost by the first-in, first-out method. 167,700 X b. Determine the inventory cost by the last-in, first-out method c. Determine the inventory cost by the weighted average cost method