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Question
The units of Product Green-2 available for sale during the year were as follows:
| Apr. 1 | Inventory | 15 units | @ | $30 | |
| June 16 | Purchase | 29 units | @ | $33 | |
| Sept. 28 | Purchase | 45 units | @ | $35 |
There are 17 units of the product in the physical inventory at September 30. The periodic inventory system is used. Determine the cost of merchandise sold by the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
Answer
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