Periodic inventory by three methods
The units of an item available for sale during the year were as follows:
Date Line Item Description Value
Jan. Inventory units at $
Feb. Purchase units at $
Jul. Purchase units at $
Nov. Purchase units at $
There are units of the item in the physical inventory at December The periodic inventory system is used. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
a Determine the inventory cost by the firstin firstout method.
fill in the blank of $
b Determine the inventory cost by the lastin firstout method.
fill in the blank of $
c Determine the inventory cost by the weighted average cost method. Round your answer to the nearest dollar.
fill in the blank of $
