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In its first month of operations, Lily Company made three purchases of merchandise in the following sequence: ( 1 ) 3 5 0 units at
In its first month of operations, Lily Company made three purchases of merchandise in the following sequence: units at $
units at $ and units at $
a
Calculate the average unit cost. Round answer to decimal places, eg
Average unit cost $
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b
Compute the cost of the ending inventory under the averagecost method, assuming there are units on hand. Round answer to Odecimal places, eg
The cost of the ending inventory
$
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