Question

Cozler Jewelers uses the periodic inventory system. Following are the data pertaining to the inventory on January 1, the beginning of the fiscal year; purchases during the year; and the inventory count on December 31.


Required
1. Determine the cost of the inventory on December 31 by the weighted-average-cost method. (Round to two decimal places.)
2. Determine the cost of the inventory on December 31 by the first-in, first-out method.
3. Determine the cost of the inventory on December 31 by the last-in, first-outmethod.


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  • CreatedOctober 21, 2014
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