The units of an item available for sale during the year were as follows:
january 11 inv...
Business, 18.12.2019 23:31 jholland18
The units of an item available for sale during the year were as follows:
january 11 inventory 60 units @ $145
february 27 purchase 90 units @ $150
november 21 purchase 75 units @ $154
there are 48 units of the item in the physical inventory at december 31. the periodic inventory system is used.
determine the inventory cost by
(a) the first-in, first-out method,
(b) the last-in, first-out method, and
(c) the average cost method.
Answers: 1
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