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please , solve the question quickly. The Meta company is a trading company that purchases and sells a single product - product X. The company
please , solve the question quickly.
The Meta company is a trading company that purchases and sells a single product - product X. The company has the following record of sales and purchases of product X for the month of June 2013. June 01: Balance on hand at the beginning of the month; 200 units @ $10.15. June 05: Purchased 800 units @ $10.25. June 07: Sold 400 units. June 12: Purchases: 600 units @ $10.40. June 14: Sales: 500 units June 20: Purchases: 400 units @ $10.50 June 25: Purchases: 800 units @ $10.70 June 26: Sales: 1,400 units June 28: Sales: 200 units June 30: Purchases: 600 units @ $10.85 Required: Compute inventory cost at June 30, 2013 using average cost method assuming the Meta company uses periodic inventory systemStep by Step Solution
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