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Novak Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year: Apr 1 Beginning inventory 25 May 4 16
Novak Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year: Apr 1 Beginning inventory 25 May 4 16 Jun 4 Purchase Purchase Sale Purchase Purchases Units 100 310 140 110 Unit Cost $15 17 19 23 Units 250 Sales Selling Price/Unit $31 b) Using the average cost formula, calculate the ending inventory at June 30. (Round answer to 2 decimal places, e.g. 52.75.) Ending inventory $ eTextbook and Media
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
