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. $1$ Inventory $4$ units at $$48$ $$192$

Aug. $13$ Purchase $14$ units at $$51714$

Nov. $30$ Purchase $4$ units at $$53212$

Available for sale $22$ units $$1,118$

There are $7$ units of the item in the physical inventory at December $31.$ The periodic inventory system is used. Determine the inventory cost using the $($a$)$ first$-$in$,$ first$-$out $($FIFO$)$ method; $($b$)$ last$-$in$,$ first$-$out $($LIFO$)$ method; and $($c$)$ weighted 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$)$ $fill in the blank $1$

b$.$ Last$-$in$,$ first$-$out $($LIFO$)$ $fill in the blank $2$

c$.$ Weighted average cost $fill in the blank $3$ Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods

The units of an item available for sale during the year were as follows:

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

$