Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 30 units at $460 $13,800 330 units at $437 144,210 50 units at $456 22,800 410 units $180,810 Jan. 1 Aug. 13 Nov. 30 Inventory Purchase Purchase Available for sale There are 73 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory c a. First-in, first-out (FIFO) method 3,192 b. Last-in, first-out (LIFO) method 13,800 c. Weighted average cost method 441

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Aug. 13 Inventory Purchase 30 units at $460 $13,800 330 units at $437 144,210 Nov. 30 Purchase 50 units at $456 22,800 Available for sale 410 units $180,810 There are 73 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory c a. First-in, first-out (FIFO) method b. Last-in, first-out (LIFO) method c. Weighted average cost method 3,192 13,800 441