so,the calculations should be done in what manner?

Inventory~Cost Assumuption

(a). The following lots of a particular commodity were available for sale during the year:

Beginning inventory

First purchase

Second purchase

Third purchase

10 units at $50

25 units at $55

30 units at $60

15 units at $65

The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year.

What is the amount of inventory at the end of the year according to the first-in. first-out method?

a. $1,250

b. $1,150

C. $1,275

d. $1,050

(b). The following lots of a particular commodity were available for sale during the year:

Beginning inventory

First purchase

Second purchase

Third purchase

10 units at $30

25 units at $32

30 units at $34

10 units at $35

The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year.

What is the amount of cost of merchandise sold according to the last-in. first-out method?

a. $1,850

b. $620

C. $1,690

d. $659

. The following lots of a particular commodity were available for sale during the year:

Beginning inventory

First purchase

Second purchase

Third purchase

5 units at $61

15 units at $63

10 units at $74

10 units at $77

The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year.

What is the amount of the inventory at the end of the year according to the weighted average cost

method?

a. $1,380

b. $1,375

C. $1,510

d. $1,220

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