Question: I need A solved please Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the

 I need A solved please Periodic Inventory Using FIFO, LIFO, and

I need A solved please

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the year were as follows: $455 608 468 S1,531 Jan. 1 Inventory Aug. 13 Purchase Nov. 30 Purchase Available for sale There are 17 units of the item in the physical inventory a used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c)the weighte average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar) a. First-in, first-out (FIFo) b. Last-in, first-out (LIFO) c. Weighted average cost 13 units at $35 16 units at $38 12 units at $39 41 units t December 31. The periodic inventory system is 538 X

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!