Question
1. At a lump-sum cost of $69,000, Milan Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit
1. At a lump-sum cost of $69,000, Milan Company recently purchased the following items for resale:
Item No. of Items Purchased Resale Price Per Unit
M 4,000 $3.75
N 2,000 12.00
O 6,000 6.00
What is the approximate cost of each inventory item?
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Auditing & Assurance Services A Systematic Approach
Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt
11th Edition
1260687635, 1259969444, 9781259969447, 978-1260687637
