The units of an item available for sale during the year were as follows: Jan 1 Inventory
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Question:
The units of an item available for sale during the year were as follows:
Jan 1 Inventory 15 units at 121 April 15 Purchase 139 units at 114 September 9 Purchase 23 units at 121
There are 40 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the average cost method.
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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