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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 21 units @ $30 $630 June 16 Purchase
The units of Manganese Plus available for sale during the year were as follows:
Mar. 1 | Inventory | 21 units | @ $30 | $630 |
June 16 | Purchase | 32 units | @ $33 | 1,056 |
Nov. 28 | Purchase | 42 units | @ $35 | 1,470 |
95 units | $3,156 |
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. $fill in the blank 1
b. Determine the inventory cost by the LIFO method. $fill in the blank 2
c. Determine the inventory cost by the average cost methods. Round answer to two decimal places. $fill in the blank 3
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