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Units of an item available for sale during the year were as follows; January 12 Inventory 60 units @ $145 February 15 Purchase 90 units
Units of an item available for sale during the year were as follows;
January 12 Inventory 60 units @ $145
February 15 Purchase 90 units @ $150
November 23 Purchase 75 units @ $154
Totals 225 units
There are 48 units of the item in the physical inventory on 12/31. the periodic inventory system is used. Determine the dollar value of the endinding inventory used the FIFO, LIFO, and average-cost methods.
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