Pappa's Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, 2016, purchases invoices during the year, and the inventory count at December 31, 2016, are summarized as follows:

Required:
1. Determine the cost of the inventory on December 31, 2016, by the first-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units purchased most recently first.

2. Determine the cost of the inventory on December 31, 2016, by the last-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the OLDEST units first.

3. Determine the cost of the inventory on December 31, 2016, by the weighted average cost method.

4. Would be preferred for income tax purposes in periods of declining prices.

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Purchases Invoices Inventory, Inventory Count, Model January l C55 D119at S639 7at 645 F32 H296at 305 K47at 520 S33 X744at 35 1st 2nd 3rd December 31 3 at S1,040 3 at S1,054 3at S1,060 3at S1,070 4 3 at 260 3 at 310 8at 531 4 at 222 6at 36 6at 666 1 at 260 3 at 316 4 at 549 4 at 232 8at 37 6 at 675 1 at 280 4 at 317 6 at 542 5 at 240 7 at 39 Papa's Appliances Cost of the Inventory-FIFO Method December 31, 2016 Model Quantity C55 C55 D11 D11 F32 F32 H29 K47 K47 S33 X74 Total pa' S Unit Cost Total Cost Papa's Appliances Cost of the Inventory-LIFO Method December 31,201<6 Model Quantity C55 C55 D11 D11 F32 H29 K47 K47 S33 X74. X74 Total pa' S Unit Cost Total Cost Appliances Papa's Cost of the Inventory-Weighted Average Method December 31, 2016 Model Quantity C55 D11 F32 H29 K47 S33 X74 Total Unit Cost Total Cost