162.Beginning inventory, purchases, and sales data for hammers are as follows: Mar. 3 Inventory 12 units @ $15 11 Purchase 13 units @ $17 ...

162.Beginning inventory, purchases, and sales data for hammers are as follows:

Assuming the business maintains a

perpetual

inventory system, complete the inventory cards and calculate the costof merchandise sold and ending inventory under the following assumptions:

(a)First-in, first-out

(b)Last-in, first-out

163.The units of an item available for sale during the year were as follows:

Jan.1 Inventory25 units at $45

Mar.4 Purchase15 units at $50

June7 Purchase35 units at $58

Nov.15 Purchase20 units at $65

There are 30 units of the item in the physical inventory at December 31. The periodic inventory system isused. Determine the ending inventory cost using FIFO.

164.The units of an item available for sale during the year were as follows:

There are 19 units of the item in the physical inventory at December 31. The periodic inventory system isused. Determine the ending inventory cost using LIFO.

165.The beginning inventory and purchases of an item for the period were as follows:

Beginning inventory 6 units at $70 each

First purchase10 units at $75 each

Second purchase18 units at $80 each

Third purchase10 units at $90 each

The company uses the periodic system, and there were 15 units in the inventory at the end of theperiod. Determine the cost of the 15 units in the inventory by each of the following methods, presenting details ofyour computations: (a) first-in, first-out; (b) last-in, first-out; (c) average cost. Do not round your intermediatecalculations. Round your final answer to two decimal places.