Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: There are 9
Posted: Sun Jul 03, 2022 3:49 pm
Periodic Inventory by Three Methods
The units of an item available for sale during the year were asfollows:
There are 9 units of the item in the physicalinventory at December 31. The periodic inventory system isused.
a. Determine the inventory cost bythe first-in, first-out method.$fill in the blank 1
b. Determine the inventory cost bythe last-in, first-out method.$fill in the blank 2
c. Determine the inventory cost by theweighted average cost method. Round average unit costto the nearest cent and final answers to the nearest whole dollar,if required.$fill in the blank 3
The units of an item available for sale during the year were asfollows:
There are 9 units of the item in the physicalinventory at December 31. The periodic inventory system isused.
a. Determine the inventory cost bythe first-in, first-out method.$fill in the blank 1
b. Determine the inventory cost bythe last-in, first-out method.$fill in the blank 2
c. Determine the inventory cost by theweighted average cost method. Round average unit costto the nearest cent and final answers to the nearest whole dollar,if required.$fill in the blank 3