Question: Periodic Inventory Using , LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan.

Periodic Inventory Using , LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. Inventory 11 units at $31 $341 Aug. 13 Purchase 10 units at $32 Nov. 30 Purchase 11 units at $34 374 Available for sale 32 units $1,035 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first in, first-out (FFO) method; (b) tastin, 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 dodar) First-in, furst-out (FIFO) 474 X best-in, furst out (LIFO) 5017 Weighted average cost 185 X

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