Solution-Determine inventory cost by the last-in, first-out

Determine inventory cost by the last-in, first-out method

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Reference no: EM133132459

Question - Periodic Inventory by Three Methods - The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 9 units @ $44

Feb. 17 Purchase 19 units @ $45

July 21 Purchase 9 units @ $46

Nov. 23 Purchase 18 units @ $46

There are 9 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Required -

a. Determine the inventory cost by the first-in, first-out method.

b. Determine the inventory cost by the last-in, first-out method.

c. Determine the Inventory cost by the weighted average cost method.

Reference no: EM133132459

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Determine inventory cost by the last-in, first-out method

Reference no: EM133132459

Reference no: EM133132459

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