The units of Manganese Plus available for sale during the year were as follows: Mar. 1...

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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory. 21 units @ $29 $609 June 16 Purchase 32 units @ $32 1,024 Nov. 28 Purchase 39 units @ $38 1,482 92 units $3,115 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. b. Determine the inventory cost using the LIFO method. c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places. The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory. 21 units @ $29 $609 June 16 Purchase 32 units @ $32 1,024 Nov. 28 Purchase 39 units @ $38 1,482 92 units $3,115 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. b. Determine the inventory cost using the LIFO method. c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places.

Answer rating: 100% (QA)

SOLUTION a To determine the inventory cost using the FIFO method we assume that the first units purchased are the first units sold and the ending inve... View the full answer