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a$.$ Note that this exercise uses the periodic inventory system. FIFO means that the first units purchased are assumed to

be the first to be sold. Therefore, ending inventory costs for the period are calculated by taking the number of items

remaining in the physical inventory times the most recent purchase price. If the number of items in last purchase layer

is less than the number in ending inventory, the balance of the ending inventory items must be recorded at the second

most recent purchase cost. The cost of merchandise sold for the period can be calculated by subtracting the ending

inventory from the total cost of goods available for sale.

b$.$ Note that this exercise uses the periodic inventory system. LIFO means the last units purchased are assumed to be

the first to be sold. Therefore the ending inventory for the period is made up of the earliest costs from the period $($the

beginning inventory$).$ If the number of units in the ending inventory is greater than the units in the beginning

inventory, the excess units will be recorded at the next oldest cost associated with the first purchase. The cost of

merchandise sold for the period can be calculated by subtracting the ending inventory from the total cost of goods

available for sale.

c$.$ Note that this exercise uses the periodic inventory system. Weighted average unit cost means the average unit cost

of all available units purchased is applied to the number of units sold and those in ending inventory. Therefore, you

must first obtain a unit cost by dividing the total cost of all units available for sale by the number of units available for

sale. Then multiply the number of items remaining in the physical inventory times this unit cost. The cost of

merchandise sold for the period can be calculated by subtracting the ending inventory from the total cost of goods

available for sale.