eriódic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods he units of an item available for sale during the year were as follows: an. 1 Inventory 6 units at $42 $252 ug, 13 Purchase 20 units at $44 880 Nov. 30 Purchase 16 units at $45 720 Available for sale 42 units $1,852 There are 21 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, fi 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 th mearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost 000

eriódic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods he units of an item available for sale during the year were as follows: an. 1 Inventory 6 units at $42 $252 ug, 13 Purchase 20 units at $44 880 Nov. 30 Purchase 16 units at $45 720 Available for sale 42 units $1,852 There are 21 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, fi 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 th mearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost 000

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Description: Please do not give solution in image format thanku Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost MethodsThe units of an item available for sale during the year were as follows:6 units at $42$252Jan. 11Aug, 1320 units at $44880Nov. 30

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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