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Periodic inventory by three methods The units of an item available for sale during the year were as follows: DATA REQUIRED: a . Determine the
Periodic inventory by three methods
The units of an item available for sale during the year were as follows:
DATA
REQUIRED:
a Determine the inventory cost by the firstin firstout method.
b Determine the inventory cost by the lastin firstout method.
c Determine the inventory cost by the weighted average cost method.
Using formulas and cell references from the problem data, perform the required analysis.
Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv
for grading.
a FIFO
b LIFO
c Weighted average cost
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