Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during th

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Periodic Inventory Using Fifo Lifo And Weighted Average Cost Methods The Units Of An Item Available For Sale During Th 1 (18.73 KiB) Viewed 8 times

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17 units at $27 $459 5 units at $28 140 19 units at $30 570 Available for sale 41 units $1,169 There are 25 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first- out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a First-in, first-out (FIFO) b. Last-in, first-out (LIFO) C. Weighted average cost Jan. 1 Aug, 13 Nov. 30 Inventory Purchase Purchase