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Determine the ending inventory on july using average cost

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Reference no: EM132727618

Three identical units of item k113 are purchased during July, as shown below:

                         Item K113              Units cost

July 9 Purchase 1     151            17

Purchase 1               179            26

Purchase 1                  182.

Problem 1: Assume that one unit is sold on July 31 for $261. Determine the ending inventory on July 31 using the average cost method. (Round to nearest whole dollar)

Reference no: EM132727618

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