Question: Feb. 17 Purchase Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory

Feb. 17 Purchase Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,005 units @ $132 1,410 units a $133 July 21 Purchase 1,605 units @ $136 1,130 units $136 There are 1,205 units of the item in the physical Inventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-out method. Nov. 23 Purchase b. Determine the inventory cost by the last-n, first-out method

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