Question: 1-3 are together and 4 is alone. please help i need them all! Use the information below to answer the following questions 1-3. The following
Use the information below to answer the following questions 1-3. The following lots of a particular commodity were available for sale during the year: Beginning inventory 20 units at $50 First purchase 30 units at $52 Second purchase 20 units at $54 Third purchase 15 units at $56 1. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year (end inventory). What is the amount of inventory in stock at the end of the year according to the FIFO Method? a $1,480 b. $1,520 c. $1,582 d. $1,650 2. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year according to the LIFO Method? a $1,520 b. $1.500 c. $1,480 d. $1,650 3. The firm uses the periodic system, and there are 30 units of the commodity on hand at the end of the year. What is the amount of inventory in stock at the end of the year rounded to the nearest dollar according to the Average Cost Method? a. $1,560 b. 51,480 c. $1,582 d. $1,650 4. The units of an item available for sale during the year were as follows: Jan. 1 Inventory Mar. 4 Purchase June 7 Purchase Nov. 15 Purchase 20 units at $65 40 units at $68 25 units at $62 15 units at 560 There are 50 units of the item in the physical end inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using FIFO. m
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