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Sunland Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Units Per unit price
Sunland Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Units Per unit price Total Balance, 1/1/20 160 $6.00 $960 Purchase, 1/15/20 80 5.30 424 Purchase, 1/28/20 80 5.60 448 An end of the month (1/31/20) inventory showed that 120 units were on hand. If the company uses LIFO, what is the value of the ending inventory? $660 $636 O $720 O $624 A company just starting business made the following four inventory purchases in June: Number of units purchased Date Total cost June 1 150 units $ 390 June 10 250 units 585 June 15 250 units 700 June 28 200 units 450 $2125 A physical count of merchandise inventory on June 30 reveals that there are 300 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $870. $1354. $741. $750. Bramble's Place recorded the following data: Units Unit Cost Date Received Sold On Hand 550 $2.60 1/1 Inventory 1/8 970 1520 2.80 Purchased 1/12 Sold 1250 270 The weighted average unit cost of the inventory at January 31 is (Round your answers to 2 decimal places): $2.67. $2.73 $3.20. $2.60
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