eBook Show Me How Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available

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Ebook Show Me How Periodic Inventory Using Fifo Lifo And Weighted Average Cost Method The Units Of An Item Available 1 (23.72 KiB) Viewed 17 times

eBook Show Me How Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the year were as follows: 13 units at $40 19 units at $42 14 units at $43 Available for sale 46 units $1,920 There are 18 units of the item in the physical Inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first- out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the 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) UO c. Weighted average cost Jan. 1 Aug. 13 Nov. 30 Inventory Purchase Purchase $520 798 602