Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Date Jan. 1 Feb. 17 Jul. 21 Nov. 23 Line Item Description Inventory Purchase Purchase Purchase Units and Cost 13 units at $46 9 units at $47 6 units at $48 20 units at $48 There are 13 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round. average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first- in, first-out method. fill in the blank b. Determine the inventory cost by the last-
Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Date Jan. 1 Feb. 17 Jul. 21 Nov. 23 Line Item Description Inventory Purchase Purchase Purchase Units and Cost 13 units at $46 9 units at $47 6 units at $48 20 units at $48 There are 13 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round. average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first- in, first-out method. fill in the blank b. Determine the inventory cost by the last-
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Periodic Inventory by Three Methods
The units of an item available for sale
during the year were as follows:
Date
Jan. 1
Feb. 17
Jul. 21
Nov.
23
Line Item
Description
Inventory
Purchase
Purchase
Purchase
Vol 0.42 5Gl
LTE2 KB/S
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There are 13 units of the item in the
physical inventory at December 31. The
periodic inventory system is used. Round
average unit cost to the nearest cent and
final answers to the nearest whole dollar, if
required.
=
Units and
Cost
13 units at
$46
a. Determine the inventory cost by the first-
in, first-out method.
fill in the blank
9 units at $47
6 units at $48
b. Determine the inventory cost by the last-
in, first-out method.
fill in the blank
20 units at
$48
c. Determine the inventory cost by the
weighted average cost method. Round
average unit cost to the two decimal
places, and round your final answer to the
nearest dollar.
fill in the blank
O
85%
2
8
Start answering
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