Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an it

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Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan 1 Inventory 21 units at $180 Mar 10 Purchase 29 units at $195 Aug 30 Purchase 20 units at $204 Dec 12 Purchase 15 units at $210 There are 24 units of item in the physical inventory at December 31. The periodic inventory system is used. LIFO Method : _________ - Merchandise Inventory ___________-Merchandise Sold Average Cost: _________- Merchandise Inventory ____________-Merchandise Sold

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