Discuss arlington company uses a periodic inventory system

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Reference no: EM132449777

1. Arlington Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units sell for $85 per unit. Inventory costs are calculated at the end of the month.

2. Units Sold cost Date Activities Units Sold Cost 1-Mar Beginning inventory 100 50 5-Mar Purchase 400 55 9-Mar Sales 420 16-Mar Purchase 120 60 25-Mar Purchase 200 62 29-Mar Sales 160

3. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 16 purchase and 120 units from the March 25 purchase.

Reference no: EM132449777

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