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Copy of Copy of The units of an item available for sale during the year were as follows: Jan 1 Inventory 11 units at 122
Copy of Copy of
The units of an item available for sale during the year were as follows:
| Jan | 1 | Inventory | 11 | units at | 122 | |
| April | 15 | Purchase | 132 | units at | 114 | |
| September | 9 | Purchase | 23 | units at | 119 |
| There are 44 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) |
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Financial Accounting Reporting And Analysis
Authors: Earl K. Stice, James D. Stice
7th Edition
0324227329, 978-0324227321
