Essay
The units of an item available for sale during the year were as follows: 
There are 48 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 average cost method.Show your work.
Correct Answer:
Verified
Correct Answer:
Verified
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