Pappa's Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the year, and the inventory count at December 31 are summarized as follows:



Model Inventory,

January 1

Purchases

Invoices 1st

Purchases

Invoices 2nd

Purchases

Invoices 3rd Inventory Count,

December 31

C55 3 at $ 1,040 3 at $ 1,054 3 at $ 1,060 3 at $ 1,070 4

D11 9 at 639 7 at 645 6 at 666 6 at 675 11

F32 5 at 240 3 at 260 1 at 260 1 at 280 2

H29 6 at 305 3 at 310 3 at 316 4 at 317 4

K47 6 at 520 8 at 531 4 at 549 6 at 542 8

S33 — 4 at 222 4 at 232 — 2

X74 4 at 35 6 at 36 8 at 37 7 at 39 7

Required:


1. Determine the cost of the inventory on December 31 by the first-in, first-out method and weight average method.


If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units PURCHASED MOST RECENTLY first