Jan. 1 Inventory 5 units at $47 $235
Aug. 7 Purchase 17 units at $49 833
Dec. 11 Purchase 10 units at
32 units $1,568
There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first-out (FIFO) method; the last-in, first-out (LIFO) method; and the weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar).
First-in, first-out (FIFO)?
Last-in, first-out (LIFO)?
Weighted average cost?