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  3. periodic inventory by three methods; cost of goods

Periodic inventory by three methods; cost of goods sold The units of an...

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Accounting

Periodic inventory by three methods; cost of goods sold
The units of an item available for sale during the year were as follows:
There are 80 units of the item in the physical inventory at December 31. The periodic
inventory system is used.
Determine the ending inventory cost and the cost of goods sold by three methods. In
your calculations round average unit cost to the nearest cent, and round all
other calculations and your final answers to the nearest dollar.
Cost of Ending Inventory and Cost of Goods Sold
First-in, first-out (FIFO) $
Last-in, first-out (LIFO)
Weighted average cost
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