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Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for...

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 30 units @ $92
Mar. 10 Purchase 70 units @ $104
Aug. 30 Purchase 30 units @ $108
Dec. 12 Purchase 70 units @ $112

There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.

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ekkarill92 answered 1 year ago
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