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Periodic Inventory by three methods the units of an item available for sale during the year where as follows: jan 1 inventory 5 units @
Periodic Inventory by three methods
Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: There are S units of the item in the physical inventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-out method. x b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Round average unit cost to the nearest cent and final answers to the neares whole dollar, if required. x the units of an item available for sale during the year where as follows:
jan 1 inventory 5 units @ $43
Feb 17 Purchase 13 units @ $45
July 21 Purchase 14 unirs @ $46
Nov 23 Purchase 10 units @$48
There are 5 units of the item in the physical inmventory at December 31. The periodic inventory is used.
A. Determine the inventory bt the First-in, First-out method
$
B. Determine the inventory cost by the Last-in, First-out method.
$
C. Determine the inventory cost by the weighted average cost method. Round average unit cost to teh nearest cent and final answers to the nearest whole dollar, if required
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