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Business, 25.11.2021 14:10 skater2699

The units of an item available for sale during the year were as follows: Jan. 1 Inventory 6 units at $45 $270 Aug. 7 Purchase 16 units at $47 752 Dec. 11 Purchase 11 units at $48 528 33 units $1,550 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 (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar).

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