821 Arial 10 B&A A Periodic inventory by three methods The units of an item available for sale during the year were as follows: 1 2 3 4 DATA 5 6 Jan. 1, beginning inventory 7 Feb. 17, purchase 8 Jul. 21, purchase 9 Nov. 23, purchase 10 Dec. 31, ending inventory 11 Quantity 2,600 2,800 +900 1,700 2,100 C View Help Editing Currency Price $6 $8 $10 $12 12 REQUIRED: 13 a. Determine the inventory cost by the first-in, first-out method 14 b. Determine the inventory cost by the last-in, first-out method. 15 c. Determine the inventory cost by the weighted average cost method. Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. 16 17 18 Method 19 a FIFO Inventory Cost 20 b. LIFO 21 c. Weighted average cost 22 23 24 25 Formulas