Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item available for sale during the year were as follows: Date Line Item Description Units Cost per Unit Amount Jan. 1 Inventory 20 units at $27 $540 Aug. 13 Purchase 8 units at $29 232 Nov. 30 Purchase 9 units at $30 270   Available for sale 37 units   $1,042 There are 22 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, first-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 the nearest whole dollar). Line Item Description Amount a. First-in, first-out (FIFO) method $fill in the blank 1 b. Last-in, first-out (LIFO) method $fill in the blank 2 c. Weighted average cost method $fill in the blank 3

Q: Provide step explanation

A: The analysis you've provided for the inventory cost under FIFO, LIFO, and Weighted Average Cost…

Q: Periodic inventory by three metnods; cost of goods sold The units of an item available for sale…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

A: Step 1: Step 2: Step 3: Step 4:

Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

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Q: The units of an item available for sale during the year were as follows: Jan. 1 Inventory 180 units…

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Q: Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

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Q: Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item…

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Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…

A: FIFO method is the inventory valuation method which states the inventory purchased first are sold…

Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

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Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

A: Computation is represented as below: Formula Sheet:

Q: Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for…

A: Total units available for sale = 50 + 50 + 30 + 70 = 200 units Total units sold = Total units…

Q: Periodic Inventory by Three Methods The units of an item available for sale during the year were as…

A: Calculate the cost of goods available.

Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

A:

Q: Periodic Inventory by Three Methods The units of an item available for sale during the year were as…

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Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…

A:

Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

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Q: The units of an item available for sale during the year were as follows: Jan.1 Inventory 27 units at…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

A: Weighted Average Method is one of the methods of inventory valuation in which it is assumed that…

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Q: Periodic Inventory by Three Methods The units of an item available for sale during the year were as…

A: There are three methods of inventory valuation 1) first in first out method 2)last in last out…

Q: Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for…

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Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

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Q: Determine the ending inventory cost and the cost of goods sold by three methods. Round interim…

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Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…

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Q: Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the…

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Q: Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item…

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Q: Periodic Inventory by Three Methods The units of an item available for sale during the year were as…

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Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

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Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…

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A: PLEASE GIVE A LIKE, your response matters  [a] $ 15.50 per unit  [b] $ 6975  [c] $ 5425

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A: The first in first out method is means when a company issue the inventory which is purchased first.…