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The units of an item available for sale during the year were as follows: Jan. 1 Inventory Feb. 17 Purchase 1,000 units @ $124 1,395

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The units of an item available for sale during the year were as follows: Jan. 1 Inventory Feb. 17 Purchase 1,000 units @ $124 1,395 units @ $126 July 21 Purchase 1,595 units $127 Nov. 23 Purchase 1,125 units $129 There are 1,200 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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