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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Inventory Purchase 25 units @$31 $775
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Inventory Purchase 25 units @$31 $775 28 units @ $33 924 Nov. 28 Purchase 40 units @ $37 1,480 93 units $3,179 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. b. Determine the inventory cost by the LIFO method. c. Determine the inventory cost by the average cost methods. Round answer to two decimal places.
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