The units of an item available for sale during the year were as follows: Jan. 1 Inventory 18 units at $44 Aug. 13 Purchase 9 units at $47 Nov. 30 Purchase 13 units at $48 Available for sale 40 units $1,839 There are 24 units of the wem 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) method b. Last-in, first-out (LIFO) method c. Weighted average cost method. $792 423 624 000

The units of an item available for sale during the year were as follows: Jan. 1 Inventory 18 units at $44 Aug. 13 Purchase 9 units at $47 Nov. 30 Purchase 13 units at $48 Available for sale 40 units $1,839 There are 24 units of the wem 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) method b. Last-in, first-out (LIFO) method c. Weighted average cost method. $792 423 624 000

Name: A.4 The units of an item available for sale during the year were as fo
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Description: A.4 The units of an item available for sale during the year were as follows:Jan. 1 Inventory18 units at $44$792Aug. 13Purchase9 units at $47423Nov. 30Purchase13 units at $48624Available for sale40 units$1,839There are 24 units of the wem in the physi

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 5EA: Akira Company had the following transactions for the month. Calculate the ending inventory dollar...

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