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There are 1 , 5 0 0 units of the item in the physical inventory at December 3 1 . The periodic inventory system is

There are 1,500 units of the item in the physical inventory at December 31. The periodic inventory system is used.Periodic inventory by three methods
The units of an item available for sale during the year were as follows:
Jan. 1 Inventory 5,500 units at $4
Feb. 17 Purchase 6,400 units at $6
July 21 Purchase 6,000 units at $8
Nov. 23 Purchase 2,100 units at $10
1. determine the inventory cost by the first in, first out method
2. determine the inventory cost by the last in, first out method
3. determine the inventory cost by the wested average cost method. round average unit cost to two decimal places
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