Question: Podic Inventory Using Co, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1
Podic Inventory Using Co, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 14 units at 39 Purchase 11 units at $41 451 Nov. 30 Purchase 5 units at $43 215 Available for sale $1,212 Aug 13 30 units There are 12 units of the item in the physical inventory at December 31. The periodic inventory sum is used. Determine the inventory cost method; (b) lastin, first out (FO) method; and (c) weighted average cost method (round per unit cost to two decimal places and your finalne First in first-out (FIFO) b. Last-in, first out (LIFO) Weighted average cost C
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
