I need A solved please Periodic Inventory Using FIFO, LIFO, and Weighted Average

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I need A solved please

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the year were as follows: $455 608 468 S1,531 Jan. 1 Inventory Aug. 13 Purchase Nov. 30 Purchase Available for sale There are 17 units of the item in the physical inventory a used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c)the weighte average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar) a. First-in, first-out (FIFo) b. Last-in, first-out (LIFO) c. Weighted average cost 13 units at $35 16 units at $38 12 units at $39 41 units t December 31. The periodic inventory system is 538 X

Explanation / Answer

STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC FIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ 1-Jan 13 35 455 13 35 455 Purchasse 13-Aug 16 38 608 11 38 418 5 38 190 30-Nov 12 39 468 12 39 468 TOTAL 41 1531 24 873 17 658 STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC LIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ 1-Jan 13 35 455 13 35 455 Purchasse 13-Aug 16 38 608 12 38 456 4 38 152 30-Nov 12 39 468 12 39 468 TOTAL 41 1531 24 924 17 607 STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC WEIGHTED AVERAGE METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ 1-Jan 13 35 455 Purchasse 13-Aug 16 38 608 30-Nov 12 39 468 TOTAL 41 37.34 1531 24 37.34 896 17 37.34 635 Ending Inventory FIFO 658 LIFO 607 Average 635

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