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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16: Purchase Nov. 28 Purchase 24
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16: Purchase Nov. 28 Purchase 24 units $30 $720 32 units @ $35 1,120 43 units @$37 1,591 99 units $3,431 There are 12 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory lost by the FIFO method. b. Determine the inventory cost by the LIFO method. c. Determine the inventory cost by the weighted average cost methods. Round intermediate calculations and final answer to two decimal places.
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