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:
\table[[Jan.1,Inventory,12 units at $2,400,$28,800. Aug. 7, Purchase,15 units @ $2500, $37500. Dec. 11, Purchase, 10 units @ $2600,26000.37 units, $92,300. There are 19 units of the item in the physical inventory at December 31. Determine the inventory cost using (a) the first in, first out(FIFO) method; (b) the last in, first out(LIFO) method; and (c) the weighted average cost method (round per unit cost to two decimal places and final answer to the nearest dollar.
 Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The

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