S9: Compute the cost of ending inventory using FIFO, LIFO, weighted average cost
The inventory record for Item S9 reveals the following for Year 4. The firm uses a periodic inventory system. Units Per Unit Cost Total Inventory, January 1, Year 4 1,800 1.60 2,880 Purchases: February 18 600 1.68 1,008 May 2 900 1.72 1,548 July 26 1,500 1.80 2,700 September 29 1,200 1.84 2,208 December 3 1