2 Points Question 13 Copy of Copy of The units of an item available for sale during the year were as follows: Jan 1 Inventory 20 units at 127 April 15 Purchase 134 units at 116 September 9 Purchase 29 units at 125 There are 43 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. (Round to nearest whole dollar) Add your answer Question 14 4 Points On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit below. Item Inventory Quantity Unit Cost Price ($) Unit Market Price ($) MT22 1510 99 82 4WY09 7278 36 44 1GDS 8278 191 170 Add your answer