Question: Inventory Costing Methods - Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:

Inventory Costing Methods-Periodic Method
The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:
July 1 Beginning inventory 15,330 units @ $3 per unit
July 10 Purchased Inventory 15,360 units @ $4 per unit
July 15 Sold Inventory 15360 units @
Julu 26 Purchased Inventory 15325 units @ $5 per unit
Calculate the cost of goods sold for July and ending inventory at July 31 using (a) FIRSTIN FIRST OUT, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar.
Please read entire problem and answer all parts .

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