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Nittany Company uses a periodic inventory system. At the end of the annual accounting period, December 3 1 of the current year, the accounting records

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Nittany Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1 :
\table[[Inventory, December 31, prior year,Units,Unit cost],[For the current year:,1,880,$6
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