The units of an item available for sale during the year were as follows: 
There are 50 units of the item in the physical inventory at December 31.The periodic inventory system is used.Determine the ending 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.
Definitions:
Subjects Examined
The individuals or entities that are analyzed or tested in a study.
Obtained Value
The actual result or measurement found in a research study or experiment.
Significance Level
The significance level, often denoted as alpha (α), is the probability of rejecting the null hypothesis when it is actually true, serving as a threshold for determining the statistical significance of an effect.
Degrees of Freedom
The number of values in the final calculation of a statistic that are free to vary.
Q27: Subsidiary ledgers<br>A)are used only for Accounts Payable
Q55: Most companies will not take a purchase
Q63: A contra asset that represents the amount
Q73: Which of the following is not a
Q110: Informs the seller of the reasons for
Q112: Given the following information,compute accounts receivable turnover.
Q115: Where are selling and administrative expenses found
Q125: During periods of increasing costs,an advantage of
Q134: Control environment<br>A)Provides reasonable assurance that business goals
Q188: The three inventory costing methods will normally