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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 20 units June 16 Purchase @ $32
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 20 units June 16 Purchase @ $32 $640 27 units @ $34 918 Nov. 28 Purchase 42 units $36 1,512 89 units $3,070 There are 16 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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