The units of an item available for sale during the year were as follows: Jan. 1 ...............

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

Jan. 1 ............... inventory .............. 21 units at $1,800

May 15 ............. Purchase .............. 29 units at $1,950

Aug. 7 .............. Purchase .............. 10 units at $2,040

Nov. 20 ............. Purchase .............. 15 units at $2,100

There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form:

The units of an item available for sale during the

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Survey of Accounting

ISBN: 978-1305961883

8th edition

Authors: Carl S. Warren

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Question Posted: Feb 16, 2017 09:25 AM

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The units of an item available for sale during the year were as follows: Jan. 1 ...............

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Ending Inventory Cost of Goods Sold Inventory Method a. First-in, firs -out b. Last-in, firs -out c. Weighted average

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Survey of Accounting

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