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Ker=&takeAssignmentSessionLocator=&inpro... eBook Show Me How Calculator Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory Feb. 17 Purchase 1,000 units $126 1,375 units $127 July 21 Purchase 1,620 units @ $128 Nov. 23 Purchase 1,130 units $130 There are 1,205 units of the item in the physical inventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-out method. 127 X $ b. Determine the inventory cost by the last-in, first-out method. 130 x c. Determine the inventory cost by the weighted average cost method. Do not round intermediate calculation and round final answer nearest whole dollar. $ 1,544,29 X ake AssignmentMain.do?invoker=&take AssignmentSessionLocator=&inpro... 12 Chapter 27 Test flash eBook Show Me How Calculator Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1. Inventory 1,000 units $126 Feb. 17 Purchase 1,375 units $127 July 21 Purchase 1,620 units $128 Nov. 23 Purchase 1,130 units $130 There are 1,205 units of the item in the physical inventory at December 31. The periodic Inventory system is used. a. Determine the inventory cost by the first-in, first-out method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Do not round intermediate calculation and round final ans nearest whole dollar. $ F Check My World a. Note that this exercise uses the periodic inventory system. FIFO means that the first units purchased are assumed to be the first Therefore, ending Inventory costs for the period are calculated by taking the number of items remaining in the physical inventory tim more Check My Work usos remaining Previous O

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