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The following units of an item were available for sale during the year Jan 1. Inventory 30 units @ $130 Mar 10. Purchase 70 units
The following units of an item were available for sale during the year
Jan 1. Inventory 30 units @ $130
Mar 10. Purchase 70 units @ $140
Aug. 15. Purchased 10 units @ $145
Dec 10. Purchased 70 units @$150
There are 80 units of the item remaining in the physical inventory on December 31st. The periodic inventory system was used. Determine the inventory cost and cost of merchandise sold using the three main methods
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