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The units of an item available for sale during the year were as follows: January February 27 10 July 11 Inventory Purchase Purchase 27
The units of an item available for sale during the year were as follows: January February 27 10 July 11 Inventory Purchase Purchase 27 units @ $90 54 units @ $98 63 units @ $106 November 13. Purchase 36 units @ $115 wwwww There are 50 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventor cost by (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. Show your work.
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