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…