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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Nov. 28 Inventory Purchase Purchase 23
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Nov. 28 Inventory Purchase Purchase 23 units $31 $713 29 units 44 units 96 units @ $31 @ $37 899 1,628 $3,240 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. Round answers to the nearest whole dollar. 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.
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