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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 1,085 units $140

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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 1,085 units $140 Feb. 17 Purchase 1,375 units @ $141 July 21 Purchase 1,560 units @ $143 Nov 23 Purchase 1,140 units @ $145 There are 1,215 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. b. Determine the inventory cost by the last in, first-out method. c. Determine the Inventory cost by the weighted average cost method. Do not round Intermediate calculation and round final answer to the nearest whole dollar

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