ble for sale during the year were as follows: r. 1 Inventory 25 units @ $32 $800 ne 16 Purchase 29 units @ $31 899 . 28 Purchase 43 units @ $39 1,677 97 units $3,376 re are 15 units of the product in the physical inventory at November 30. The periodic inventory s Determine the inventory cost by the FIFO method.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The units of Manganese Plus available for sale during the year were as follows:
Mar. 1
Inventory
25 units
@ $32
$800
June 16
Purchase
29 units
@ $31
899
Nov. 28
Purchase
43 units
@ $39
1,677
97 units
$3,376
There are 15 units of the product in the physical inventory at November 30. The periodic inventory system is use
a. Determine the inventory cost by the FIFO method.
%24
b. Determine the inventory cost by the LIFO method.
%2$
c. Determine the inventory cost by the average cost methods. Round answer to two decimal places.
%24
Transcribed Image Text:The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 25 units @ $32 $800 June 16 Purchase 29 units @ $31 899 Nov. 28 Purchase 43 units @ $39 1,677 97 units $3,376 There are 15 units of the product in the physical inventory at November 30. The periodic inventory system is use a. Determine the inventory cost by the FIFO method. %24 b. Determine the inventory cost by the LIFO method. %2$ c. Determine the inventory cost by the average cost methods. Round answer to two decimal places. %24
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