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(3 marks) Gulf LLC, a newly incorporated company, uses the weighted-average cost method to cost and value its inventory The following are the purchases and

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(3 marks) Gulf LLC, a newly incorporated company, uses the weighted-average cost method to cost and value its inventory The following are the purchases and sales made by Gulf LLC during 2014 (as a newly set up company, Gulf LLC has no beginning inventory): Purchases January 100 units @ $250 per unit 2 March 150 units $300 per unit September 200 units$350 per unit Sales March 150 units December 170 units Required Using the weighted-average cost method, compute the value and the cost per unit of the inventory at: March 31, 2014; September 30, 2014; December 31, 2014; (1 mark) (1 mark) (1 mark)

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