Haha Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale duringthe year were as follows: Jan. 1 Inventory 4 units at $3,100 $12,400 Aug. 7 Purchase 18 units at $3,300 59,400 Dec. 11Purchase 12 units at $3,400 40,800 34 units $112,600 There are 18 units of the item in the physical inventory at December31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b)the last-in, first-out (LIFO) method; and (c) the weighted average cost method (Round per unit cost to two decimal placesand your final answer to the nearest whole dollar). There are 18 units of the item in the physical inventory at December 31.The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) thelast-in, first-out (LIFO) method; and (c) the weighted average cost method (Round per unit cost to two decimal places andyour final answer to the nearest whole dollar).a. First-in, first-out (FIFO) $1 b. Last-in, first-out (LIFO) $2 c. Weighted average cost $

Name: Haha Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Me
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Haha Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale duringthe year were as follows: Jan. 1 Inventory 4 units at $3,100 $12,400 Aug. 7 Purchase 18 units at $3,300 59,400 Dec. 11Purchase 1