Periodic Inventory by Three Methods The units of an item available for sale during the...
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Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,045 units @ $128 Feb. 17 Purchase 1,410 units @ $129 July 21 Purchase 1,585 units @ $131 Nov. 23 Purchase 1,130 units @ $132 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 answer to the nearest whole dollar
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