the following inforomation about one of the items carried in the food inventory of the yellow dog restaurant is taken from inventory records for the month of january. as of january 31, a physical inventory shows 10 on the shelf.

1/1 opening inventory 9 units $1.07

1/5 purchased 15 units $ 1.20

1/12 purchased 15 units $1.25

1/19 purchased 10 units $1.35

1/26 purchased 6 units $1.40

1) what is closing inventory unit?

2) determine value ($) of closing inventory for each method.

a) FIFO

b) latest purchase price method

c) weighted average price method.

d) last in, first out method.

3) calculate cost of units issued for each method.

a) FIFO

b) latest purchase price method

c) weighted average price method

d) last in, first out method