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Priscilla has the following inventory information. July1 Beginning Inventory 20 units at $19 $380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units
Priscilla has the following inventory information.
| July1 | Beginning Inventory | 20 units at $19 | $380 |
| 7 | Purchases | 70 units at $20 | 1,400 |
| 22 | Purchases | 10 units at $23 | 230 |
| $2,010 |
A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the average-cost method, the value of ending inventory is
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
