(solution) BUS 207 Principles of Accounting I Homework Assignment

(solution) BUS 207 Principles of Accounting I Homework Assignment

Got this assignment and was completely lost. Please help I have no where to go with this assignment

BUS 207 ? Principles of Accounting I
Homework Assignment 6
Chapter 7
The units of an item available for sale during the year were as follows:
Jan. 1
Feb. 17
July 21
Nov. 23 Inventory
Purchase
Purchase
Purchase 30 units at $125
75 units at $133
42 units at $148
20 units at $160 There are 70 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.