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Determine the ending inventory on July

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Reference no: EM132929104

Question - Three identical units of Item K113 are purchased during July, as shown below.

Item K113 Units Cost 181

July 9 Purchase 1 151 17 Purchase 1 178 26 Purchase 1

Assume that one unit is sold on July 31 for $231. Determine the ending inventory on July 31 using the average cost method.

Reference no: EM132929104

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