Business, 21.05.2021 05:10 kellyroy74

The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units at $41 $451
Aug. 13 Purchase 17 units at $44 748
Nov. 30 Purchase 18 units at $46 828
Available for sale 46 units $2,027

There are 28 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

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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units...

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