Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units at $128 Mar. 10 Purchase 60 units at $138 Aug. 30 Purchase 30 units at $142 Dec. 12 Purchase 70 units at $146 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar. Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO)     Last-in, first-out (LIFO)     Weighted average cost

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: $36,000 62,400 48,000 $146,400 There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (Firo) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method (Round per unit cost to two decimal places and your final answer to the neares whole dollar). Jan. 1 Aug. 7 Dec, 11 Inventory 10 units at $3,600 Purchase 16 units at $3,900 Purchase 12 units at $4,000 38 units A. First-in, first out (riro)) b. Last-in, first-out (LIFO) Weighted average cost G

The units of an item available for sale during the year were as follows: Jan. 1 Inventory 22 units at $1,800 each June 9 Purchase 30 units at $1,950 each July 28 Purchase 13 units at $2,040 each Nov. 1 Purchase 17 units at $2,100 each There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar.   Cost Inventory Method Ending Inventory Cost of Goods Sold a.  First-in, first-out method $fill in the blank 1 $fill in the blank 2 b.  Last-in, first-out method fill in the blank 3 fill in the blank 4 c.  Weighted average fill in the blank 5 fill in the blank 6

4.  Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Date Line Item Description Units and Cost Jan. 1   Inventory 5 units at $42 Feb. 17   Purchase 19 units at $43 Jul. 21   Purchase 20 units at $45 Nov. 23   Purchase 8 units at $45 There are 5 units of the item in the physical inventory at December 31. 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 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. Round average unit cost to the two decimal places, and round your final answer to the nearest dollar.

Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units @ $96 Mar. 10 Purchase 70 units @ $106 Aug. 30 Purchase 30 units @ $110 Dec. 12 Purchase 60 units @ $114 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.     Cost of Merchandise Inventory and Cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold First-in, first-out (FIFO) $ $ Last-in, first-out (LIFO)     Weighted average cost

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Oct. 1 Oct. 7 Oct. 15 Oct. 24 Inventory Sale Purchase Sale Value 38 units @ $24 26 units 30 units @ $26 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24: b. Inventory on October 31:

< Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 May 15 Aug. 7 Inventory Nov. 20 Purchase 12 units at $2,040 17 units at $2,100 There are 20 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Purchase Purchase 21 units at $1,800 30 units at $1,950 Inventory Method a. First-in, first-out method b. Last-in, first-out method c. Weighted average cost method Feedback Ending Inventory Cost of Goods Sold 0 X 0 X 0 Cost X $ 114,660 ✓ 0 X 0 X

Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Inventory 10 units at $970 each Purchase 45 units at $960 each July 28 Purchase 30 units at $890 each November 1 Purchase 15 units at $920 each There are 35 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Cost 4 Ending Inventory January 1 June 9 Inventory Method a. First-in, first-out- b. Last-in, first-out c. Weighted average Feedback X 32,690 ✔ Cost Cost of Goods Sold

Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units at $108 Mar. 10 Purchase 70 units at $116 Aug. 30 Purchase 30 units at $122 Dec. 12 Purchase 60 units at $128 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar. Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) $ Last-in, first-out (LIFO) Weighted average cost

Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Date Line Item Description Units and Cost Jan. 1   Inventory 8 units at $24 Feb. 17   Purchase 11 units at $25 Jul. 21   Purchase 10 units at $26 Nov. 23   Purchase 19 units at $26 There are 8 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. a.  Determine the inventory cost by the first-in, first-out method.fill in the blank 1 of 3$ b.  Determine the inventory cost by the last-in, first-out method.fill in the blank 2 of 3$ 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.fill in the blank 3 of 3$