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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 20 units @ $29 $580 June 16 Purchase
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 20 units @ $29 $580 June 16 Purchase 31 units @ $34 1,054 Nov. 28 Purchase 44 units @ $36 1,584 95 units $3,218 There are 15 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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