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eBook Show Me How Calculator Print item Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory Feb. 17 Purchase Jul. 21 Purchase Nov. 23 Purchase 4 units at $42 6 units at $44 20 units at $46 15 units at $46 There are 18 units of the item in the physical inventory at December 31. The perid decimal and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first-in, first-out method. 828 b. Determine the inventory cost by the last-in, first-out method. 800 c. Determine the inventory cost by the weighted average cost method. 44 X Feedback Check My Work a. Note that this exercise uses the periodic inventory system. FIFO means that the first ending inventory costs for the period are calculated by taking the number of items rem the number of items in last purchase layer is less than the number in ending inventory second most recent purchase cost. The cost of goods sold for the period can be calcul puailshla for cala Check My Work