Question: The units of an item available for
The units of an item available for sale during the year were as follows: 
There are 220 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by (a). the first-in, first-out method, (b). the last-in, first-out method, and (c). the weighted average cost method.
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1 200 units at $60 275 units at $64 Jan. Inventory Purchase Feb. 17 July 21 Purchase 300 units at $68 225 units at $70 Nov. 23 Purchase
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