The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 25 units @ $29 $725 June 16 29 units @ $32 928 Purchase Purchase Nov. 28 41 units @ $37 1,517 95 units $3,170 There are 12 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. b. Determine the inventory cost by the LIFO method. c. Determine the inventory cost by the weighted average cost methods. Round intermediate calculations and final answer to two decimal places.

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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 14 units at $30 $420 Aug. 13 Purchase 11 units at $33 363 Nov. 30 Purchase 17 units at $35 595 Available for sale 42 units $1,378 There are 21 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. Novak Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date   Explanation   Units   UnitCost   TotalCost   May   1   Inventory   27     $ 7   $ 189   May   15   Purchase   26     8   208   May   18   Sale   ( 46 )           May   24   Purchase   40     9   360           Total   47         $ 757   Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations and round final answers to 2 decimal places, e.g 5.25.) Cost of goods sold   $  Ending Inventory   $    b. Ayayai Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. Date   Explanation   Units   Unit Cost   Total Cost   May 1   Inventory   31     $ 10     $ 310     May 15   Purchase   26     11     286     May 24   Purchase   42     12     504         Total     99…

The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 25 units @ $29 $725 June 16 Purchase 32 units @ $34 1,088 Nov. 28 Purchase 40 units @ $37 1,480 97 units $3,293 There are 17 units of the product in the physical inventory at November 30. The periodic inventory system is used. Round answers to the nearest whole dollar. a. Determine the inventory cost by the FIFO method. $4 b. Determine the inventory cost by the LIFO method. $4 c. Determine the inventory cost by the average cost methods.

The units of an item available for sale during the year were as follows: Date Line Item Description Value Jan. 1   Inventory 2,900 units at $5 Feb. 17   Purchase 2,800 units at $7 Jul. 21   Purchase 3,200 units at $9 Nov. 23   Purchase 1,100 units at $11 There are 1,400 units of the item in the physical inventory at December 31. The periodic inventory system is used. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.     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 your answer to the nearest dollar

Crane Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 107 units were sold. Date May 1 15 24 Explanation Inventory Purchases Purchases Totals Ending inventory at May 31 Cost of goods sold e Textbook and Media Units 50 41 Save for Later 58 149 $ Unit Cost $15 18 Calculate the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) $ 19 Total Cost $750 738 FIFO 1,102 $2,590 $ $ LIFO $ $ Average-cost Attempts: 0 of 3 used Submit Answer

The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 24 units @ $32 $768 June 16 Purchase 28 units @ $30 840 Nov. 28 Purchase 46 units @ $37 1,702 98 units $3,310 There are 12 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. b. Determine the inventory cost using the LIFO method. c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places.

The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 21 units @ $29 $609 June 16 Purchase 29 units @ $32 928 Nov. 28 Purchase 46 units @ $35 1,610     96 units   $3,147   There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. Round answers to the nearest whole dollar. a.  Determine the inventory cost by the FIFO method.$ b.  Determine the inventory cost by the LIFO method.$ c.  Determine the inventory cost by the average cost methods.

You have the following information for Tamarisk, Inc. for the month ended October 31, 2022. Tamarisk uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 60 24 Oct. 9 Purchase 115 26 Oct. 11 Sale 95 45 Oct. 17 Purchase 95 27 Oct. 22 Sale 60 50 Oct. 25 Purchase 70 29 Oct. 29 Sale 105 50 A(3) Calculate gross profit rate under each of the following: 1.LIFO 2.FIFO 3. Average-cost. Gross profit rate - LIFO% - FIFO% AND AVERAGE-COST %