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Question - The units of an item available for sale during the year were as follows:
Jan. 1
Inventory
18
units at $35
$630
Aug. 13
Purchase
13
units at $36
468
Nov. 30
20
units at $38
760
Available for sale
51
units
$1,858
There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar).
Annual fixed costs are $67,500. Ignoring taxes, how many units would allow you to reach a financial break-even point
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