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Periodic Inventory by Three Methods The units of an item available for sale during the year...

Periodic Inventory by Three Methods

The units of an item available for sale during the year were as follows:

Jan. 1   Inventory 1,000 units @ $140
Feb. 17   Purchase 1,415 units @ $141
Jul. 21   Purchase 1,655 units @ $144
Nov. 23   Purchase 1,135 units @ $146

There are 1,210 units of the item in the physical inventory at December 31. The periodic inventory system is used. Do not round intermediate calculation and round final answer to nearest whole value.

a. Determine the inventory cost by the first-in, first-out method.
$

b. Determine the inventory cost by the last-in, first-out method.
$

c. Determine the inventory cost by the weighted average cost method.
$

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