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.

Transcribed Image Text:

Model CP925 JG491 8M21 Inventory Jan. 1 First purchase Second purchase Third purchase Fourth purchase Inventory, Dec. 31 12$433 18 $445 24 $451 18 $451 4$457 16 4 @ $785 8 @ $786 10 $787 7@ $788 20 @ $319 27 e $321 29 $322 31 $324 25 $327 30