Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO8-4) Rogers Products uses a periodic inventory...

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Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO8-4) Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows: January 1 Beginning inventory February 23 Purchase April 20 Purchase May 4 Purchase November 30 Purchase Totals 12 units @ $3.00 17 units @ $3.50 $ 36.00 59.50 29 units @ $3.80 39 units @ $4.00 18 units @ $5.00 115 units 110.20 156.00 90.00 $ 451.70 A physical count indicates 21 units in inventory at year-end. Required: Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) Note: Round your intermediate and final answers to 2 decimal places. a. Average cost b. FIFO c. LIFO Ending Inventory Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO8-4) Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows: January 1 Beginning inventory February 23 Purchase April 20 Purchase May 4 Purchase November 30 Purchase Totals 12 units @ $3.00 17 units @ $3.50 $ 36.00 59.50 29 units @ $3.80 39 units @ $4.00 18 units @ $5.00 115 units 110.20 156.00 90.00 $ 451.70 A physical count indicates 21 units in inventory at year-end. Required: Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) Note: Round your intermediate and final answers to 2 decimal places. a. Average cost b. FIFO c. LIFO Ending Inventory