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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 2,700 units
Periodic inventory by three methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 2,700 units at $5 Feb. 17 Purchase 3,200 units at $7 Jul 21 Nov. 23 Purchase Purchase 2,800 units at $9 1.300 units at $11 There are 1,900 units of the item in the physical inventory at December 31. The periodic inventory system is used. This information has been collected in the Microsoft Excel Online file. Open th spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine the inventory cost by the first-in, fest-out method. Round your answer to the nearest dollar b. Determine the inventury cast by the last-in, Srst-out method. Round your answer to the nearest duilac c. Determine the inventory cost by the weighted average cost method. Round your answer to the nearest dollar
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