THE OWL PROBLEMS WILL ASSUME USE OF THE PERIODIC METHOD. (All sales are treated as if they occurred after all of the purchases for the period. This does not, of course, apply when the specific ID method is used assign inventory costs. It does apply when FIFO, LIFO or an average cost method is used.) Here's a comprehensive inventory cost flow problem. I will only ask you a couple of questions, but the feedback will contain: The cost flow schedule you should always do first Cost of ending inventory under each of these methods: ulations Cost o Weighted Average (or Average Cost) FIFO LIFO Specific Identification prepare all of the schedules on your own as a comprehensive review After you answer the questions, review the steps in the feedback section for all 4 inventory methods. Before test time, come back here and try problem. e s apduc that has generally been increasing in price. On July 1, Weeblu had 250 units in inventory that cost $8 each. During July, Weeblu made the following purchases: July 18: 60 units at $13 each July 24: 110 units at $14 each t th July, Weeblu sold 840 units for $42 each. 250 units were from the beginning inventory, 450 units were from the July 6 purchase, 60 units were from the July 18 purchase, and 80 units were from the July 24 How many units did Weeblu have left in inventory tJuly 31? What was the Total cost of goods available for sale" for Weeblu for the month of July? CHECK