There are 48 units of the item in the physical inventory on


Units of an item available for sale during the year were as follows;

January 12 Inventory 60 units @ $145

February 15 Purchase 90 units @ $150

November 23 Purchase 75 units @ $154

Totals 225 units

There are 48 units of the item in the physical inventory on 12/31. the periodic inventory system is used. Determine the dollar value of the ending inventory used the FIFO, LIFO, and average-cost methods.

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: There are 48 units of the item in the physical inventory on
Reference No:- TGS01007100

Expected delivery within 24 Hours