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eBook Show Me How 42 units Periodic Inventory Using FIFO, LIFO,...

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eBook Show Me How 42 units Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 6 units at $49 $294 Aug. 13 Purchase 17 units at $50 850 Nov. 30 Purchase 19 units at $51 969 Available for sale $2,113 There are 25 units of the item in the physical inventory at December 31. The periodic Inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, 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 dollar). First-in, first-out (FIFO) b. Last-in, first-out (LFO) Weighted average cost C

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