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A company uses the periodic inventory system and had the following activity during the current monthly period.

A company uses the periodic inventory system and had the following activity during the current monthly period.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory of 106 Units @ $20 November 5: Purchased 106 Units @ $22 November 8: Purchased 56 Units @ $23 November 16: Sold 150 Units @ $75 November 19: Purchased 45 Units @ $25 Using the weighted-average inventory method, the company's ending inventory would be: $4,533 $2,413 $3,575 $3,245 $2,120
Transcribed Image Text:A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory of 106 Units @ $20 November 5: Purchased 106 Units @ $22 November 8: Purchased 56 Units @ $23 November 16: Sold 150 Units @ $75 November 19: Purchased 45 Units @ $25 Using the weighted-average inventory method, the company's ending inventory would be: $4,533 $2,413 $3,575 $3,245 $2,120
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