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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 5 units @ $ 4 3 Feb. 1
The units of an item available for sale during the year were as follows:
Jan. Inventory units @ $
Feb. Purchase units @ $
July Purchase units @ $
Nov. Purchase units @ $
There are units of the item in the physical inventory at December The periodic inventory system is used.
a Determine the inventory cost by the firstin firstout method.
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b Determine the inventory cost by the lastin firstout method.
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c Determine the inventory cost by the weighted average cost method. Round average unit cost to the nearest cent and final answers to the nearest whole dollar, if required.
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