The units of an item available for sale during the year were as follows: There are 32
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There are 32 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by
(a) The first-in, first-out method,
(b) The last-in, first-out method,
(c) The weighted average costmethod.
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a 62496 24 units at 1980 plus 8 units at 1872 47520 14976 b 49104 1...View the full answer
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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