Solution-Determine the ending inventory cost and cost of

Determine the ending inventory cost and cost of goods sold

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Reference no: EM132912200

Question - Periodic inventory by three methods; cost of goods sold. The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 50 units at $126

Mar. 10 Purchase 70 units at $138

Aug. 30 Purchase 10 units at $146

Dec. 12 Purchase 70 units at $150

There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.

Reference no: EM132912200

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Determine the ending inventory cost and cost of goods sold

Reference no: EM132912200

Reference no: EM132912200

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