Determine the inventory cost by the average cost method

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Reference no: EM132280493

Question - The units of Manganese Plus available for sale during the year were as follows:

Mar. 1


22 units

@ $29


June 16


31 units

@ $31


Nov. 28


41 units

@ $37




94 units



There are 11 units of the product in the physical inventory at November 30. The periodic inventory system is used. Round answers to the nearest whole dollar.

Required -

a. Determine the inventory cost by the FIFO method.

b. Determine the inventory cost by the LIFO method.

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

Reference no: EM132280493

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