Periodic Inventory Using FLFO, UFO, and Weighted Average Cost Methods The units of an item...
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Periodic Inventory Using FLFO, UFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: There are 14 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost using the (a) firstin, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) welighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). Periodic Inventory Using FLFO, UFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: There are 14 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost using the (a) firstin, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) welighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar)
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