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Determine value of ending inventory rounded to nearest is

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Reference no: EM133010555

The following units of an inventory item were available for sale during the year:

                                                Unit                   Unit Cost
Beginning inventory               11                    $55
First purchase                        30                     60
Second purchase                   34                       65
Third purchase                       19                         70

Problem 1: The firm uses the periodic inventory system. During the year, 61 units of the item were sold. The value of ending inventory rounded to nearest dollar using average cost is

Reference no: EM133010555

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