Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 16

Periodic inventory by three methods
The units of an item available for sale during the year were as follows:

There are 1,100 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by the (A) first-in, first-out method, (B) last-in, first-out method, and (C) weighted average cost method.