Question
The following units of an inventory item were available for sale during the year: Unit Unit Cost Beginning inventory 12 $55 First purchase 26 60
The following units of an inventory item were available for sale during the year:
| Unit | Unit Cost | ||
| Beginning inventory | 12 | $55 | |
| First purchase | 26 | 60 | |
| Second purchase | 34 | 65 | |
| Third purchase | 17 | 70 | |
The firm uses the periodic inventory system. During the year, 65 units of the item were sold.
The value of ending inventory rounded to nearest dollar using average cost is:
Your Answer:
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Conservation Easement Audit Techniques Guide
Authors: U.S. Internal Revenue Service
1st Edition
0359516998, 978-0359516995
