8.

Module 3 Problem Set Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: $750 15 units at $50 Inventory Jan. 1 364 7 units at $52 Purchase Aug. 13 212 Nov. 30 Purchase 4 units at $53 $1,326 Available for sale 26 units There are 13 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). First-in, first-out (FIFO) > b. Last-in, first-out (LIFO) bul Weighted average cost