Your firm values inventory using the weighted average cost method. At 1 October 20X8, there were...

 

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Your firm values inventory using the weighted average cost method. At 1 October 20X8, there were 60 units in inventory valued at $12 each. On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October. On 21 October, 75 units were sold for $1,200. What was the value of closing inventory on 31 October 20X8? "On 31 October 20x8, the value of closing inventory using weighted average method was type your answer.... Your firm values inventory using the weighted average cost method. At 1 October 20X8, there were 60 units in inventory valued at $12 each. On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October. On 21 October, 75 units were sold for $1,200. What was the value of closing inventory on 31 October 20X8? "On 31 October 20x8, the value of closing inventory using weighted average method was type your answer....

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