The following lots of a particular commodity were available for sale during the year
Beginning inventory | 10 units at $49 |
First purchase | 18 units at $54 |
Second purchase | 25 units at $20 |
Third purchase | 13 units at $60 |
The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year rounded to nearest dollar according to the average cost method? Do not round intermediate calculations.
a.$980
b.$1,127
c.$956
d.$1,192
The following lots of a particular commodity were available for sale during the year Beginning inventory...
The following lots of a particular commodity were available for sale during the year Beginning inventory 10 units at $52 First purchase 16 units at $54 Second purchase 26 units at $24 Third purchase 18 units at $60 The firm uses the periodic system, and there are 22 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year rounded to nearest dollar according to the average...
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Calculator The following lots of Commodity D were available for sale during the year. Use this information to answer the question. Beginning inventory First purchase Second purchase Third purchase 10 units at $60 25 units at $65 30 units at $68 15 units at $75 The firm uses the periodic system, and there are 25 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year...
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The following lots of Commodity Z were available for sale during the year. Use this information to answer the question. Beginning inventory First purchase Second purchase Third purchase 10 units at $30 25 units at $32 30 units at $34 10 units at $35 The firm uses the periodic system. There are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year rounded to nearest...
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solve the question with details. Questions Key 1. The following lots of Commodity D were available for sale during the year. Use this information to answer the questions that follow. Beginning inventory 10 units at $60 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $75 The firm uses the periodic system, and there are 25 units of the commodity on hand at the end of the year. What is the amount...