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Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1 5 units
Periodic Inventory by Three Methods
The units of an item available for sale during the year were as follows:
Jan. Inventory units at $
Feb. Purchase units at $
Jul. Purchase units at $
Nov. Purchase units at $
There are units of the item in the physical inventory at December The periodic inventory system is used.
a Determine the inventory cost by the firstin firstout method.
$
b Determine the inventory cost by the lastin firstout method.
$
$
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