Periodic Inventory by Three Methods

The units of an item available for sale during the year were as follows:

Jan. $1$ Inventory $8$ units at $$33$

Feb. $17$ Purchase $11$ units at $$34$

Jul. $21$ Purchase $14$ units at $$37$

Nov. $23$ Purchase $17$ units at $$37$

There are $8$ units of the item in the physical inventory at December $31.$ The periodic inventory system is used. Round average unit cost to the nearest cent and final

answers to the nearest whole dollar, if required.

a$.$ Determine the inventory cost by the first$-$in$,$ first$-$out method.

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b$.$ Determine the inventory cost by the last$-$in$,$ first$-$out method.

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c$.$ Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the

nearest dollar.

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