Periodic Inventory by Three Methods
The units of an item available for sale during the year were as follows:
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. Round average unit cost to the nearest cent and final
answers to the nearest whole dollar, if required.
a Determine the inventory cost by the firstin firstout method.
$
b Determine the inventory cost by the lastin firstout method.
$
c Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the
nearest dollar.
$
