The units of an item available for sale during the year were as follows: January...
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Accounting
The units of an item available for sale during the year were as follows: January 11 Inventory 60 units @ $145 February 27 Purchase 90 units @ $150 November 21 Purchase 75 units @ $154 There are 48 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. Show your work.
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