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Find the ending inventory cost and the cost of goods sold

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Question - Periodic inventory by three methods; cost of goods sold

The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 40 units at $92

Mar. 10 Purchase70 units at $102

Aug. 30 Purchase 20 units at $106

Dec. 12 Purchase 70 units at $108

There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Required - Find the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.

Reference no: EM132626854

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