Question: Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item available for sale during the year were as follows:
Periodic inventory using FIFO, LIFO, and weighted average cost methods
The units of an item available for sale during the year were as follows:
tableJanInventory, units at $$AugPurchase, units at $NovPurchase, units at $Available for sale, units,$
There are units of the item in the physical inventory at December The periodic inventory system is used. Determine the inventory cost using the a firstin firstout FIFO method; b lastin firstout LIFO method; and c weighted average cost method.
a Firstin firstout FIFO method
$
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