Etermine the inventory cost

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Reference no: EM13257555

The units of an item available for sale during the year were as follows:

Jan.1 Inventory 18 units at $40

Feb.26 Purchase 36 units at $46

June18 Purchase 42 units at $52

Dec.29 Purchase 24 units at $55

There are 33 units of the item in the physical inventory at December 31. The periodic inventory system isused. Determine the inventory cost by (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method.

Reference no: EM13257555

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