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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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