Question 13

Copy of Copy of The units of an item available for sale during the year were as follows: Jan 1 Inventory 18 units at 126 April 15 Purchase 134 units at 114 September 9 Purchase 21 units at 130 There are 43 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the average cost method. (Round to nearest whole dollar)

Question 14

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit below.

Item Inventory Quantity Unit Cost Price ($) Unit Market Price ($) MT22 1356 99 82 4WY09 17782 37 42 1GDS 7839 178 171