Periodic inventory by three methods; cost of goods sold The units of an item available for...

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Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Mar. 10 Aug. 30 Inventory Purchase 180 units at $108 224 units at $110 Purchase 200 units at $116 Dec. 12 Purchase 196 units at $120 There are 208 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar. Cost of Inventory and Cost of Goods Sold Inventory Method First-in, first-out (FIFO) $ Ending Inventory Cost of Goods Sold Last-in, first-out (LIFO) Weighted average cost Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Mar. 10 Aug. 30 Inventory Purchase 180 units at $108 224 units at $110 Purchase 200 units at $116 Dec. 12 Purchase 196 units at $120 There are 208 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar. Cost of Inventory and Cost of Goods Sold Inventory Method First-in, first-out (FIFO) $ Ending Inventory Cost of Goods Sold Last-in, first-out (LIFO) Weighted average cost

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To determine the ending inventory cost and the cost of goods sold using three inventory methods FIFO ... View the full answer