The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Nov. 28 Inventory Purchase Purchase 23 units @ $29 32 units @ $30 42 units @ $36 97 units $667 960 1,512 $3,139 There are 14 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.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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The units of Manganese Plus available for sale during the year were as follows:
Mar. 1
June 16
Nov. 28
Inventory
Purchase
Purchase
23 units @ $29
32 units @ $30
42 units @ $36
97 units
$667
960
1,512
$3,139
There are 14 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.
Transcribed Image Text:The units of Manganese Plus available for sale during the year were as follows: Mar. 1 June 16 Nov. 28 Inventory Purchase Purchase 23 units @ $29 32 units @ $30 42 units @ $36 97 units $667 960 1,512 $3,139 There are 14 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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