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QUESTION
periodic inventory by three methods: The units of an item available for sale during the year were as follows: Jan 1. inventory 200 units at $60 Feb...
periodic inventory by three methods:
The units of an item available for sale during the year were as follows:
Jan 1. inventory 200 units at $60
Feb 17. purchase 275 units at $64
July 21 purchase 300 units at $68
Nov 23 purchase 225 units at $70
there are 220 units of the item in the physical inventory at Dec. 31 The periodic inventory system is used. Determine the inventory cost by (a) the first-out method, (b) the last-in method, and (c) the weighted average cost method.
leulmlwlal‘”|"“|"'|°|""|°°|“‘|°‘|‘“|“I"”|”|"'I°I'|"|‘|"|"|—|" 1 FIFO Particulars AmountDate Units Rate Total Cost...