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: Jan.
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. Inventory units at $ $
aug purchase units at $ $
nov purchase 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 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 $
b last in fist out LIFO $
c weighted average cost $
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