Periodic Inventory by Three Methods; Cost of Merchandise SoldThe units of an item available for sale during the year were asfollows: Jan. 1 Inventory 30 units @ $120 Mar. 10 Purchase 70 units@ $132 Aug. 30 Purchase 30 units @ $140 Dec. 12 Purchase 70 units @$142 There are 40 units of the item in the physical inventory atDecember 31. The periodic inventory system is used. Determine theinventory cost and the cost of merchandise sold by three methods.Round interim calculations to one decimal and final answers to thenearest whole dollar.
Periodic Inventory by Three Methods; Cost of Merchandise SoldThe units of an item available for sale during the year were asfollows: Jan. 1 Inventory 30 units @ $120 Mar. 10 Purchase 70 units@ $132 Aug. 30 Purchase 30 units @ $140 Dec. 12 Purchase 70 units @$142 There are 40 units of the item in the physical inventory atDecember 31. The periodic inventory system is used. Determine theinventory cost and the cost of merchandise sold by three methods.Round interim calculations to one decimal and final answers to thenearest whole dollar.
Related questions
Periodic Inventory by Three Methods; Cost of MerchandiseSold
The units of an item available for sale during the year were asfollows:
| Jan. 1 | Inventory | 40 units @ $116 |
| Mar. 10 | Purchase | 70 units @ $126 |
| Aug. 30 | Purchase | 30 units @ $134 |
| Dec. 12 | Purchase | 60 units @ $140 |
There are 80 units of the item in the physical inventory atDecember 31. The periodic inventory system is used.
Determine the inventory cost and the cost of merchandise sold bythree methods. Round interim calculations to one decimal and finalanswers to the nearest whole dollar.
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