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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units @ $108 Mar. 10 Purchase 50

The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 30 units @ $108
Mar. 10 Purchase 50 units @ $116
Aug. 30 Purchase 30 units @ $122
Dec. 12 Purchase 90 units @ $126

There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used.

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