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Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17 units at $27 9 units at $30 20 units at $31 $459 270 620 Available for sale $1,349 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar) Aug. 13 Nov. 30 Inventory Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) C Weighted average cost 000

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17 units at $27 9 units at $30 20 units at $31 $459 270 620 Available for sale $1,349 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar) Aug. 13 Nov. 30 Inventory Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) C Weighted average cost 000

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Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17. units at $27 $459 Jan. 1 Aug. 13 9 units at $30 270 Nov. 30 20 units at $31 620 Available for sale 46 units $1,349 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost C Inventory Purchase Purchase 000
Transcribed Image Text:Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 17. units at $27 $459 Jan. 1 Aug. 13 9 units at $30 270 Nov. 30 20 units at $31 620 Available for sale 46 units $1,349 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost C Inventory Purchase Purchase 000
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