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 $$ Aug. Purchase, units @ $ $ Dec. Purchase, units @ $ units, $ There are units of the item in the physical inventory at December Determine the inventory cost using a the first in first outFIFO method; b the last in first outLIFO method; and c the weighted average cost method round per unit cost to two decimal places and final answer to the nearest dollar.
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