Current Attempt in ProgressSuppose that Blossom has the following inventory data:July 1Beginning inventory72 units at $19$13687Purchases252 units at $20504022Purchases36 units at $22792$7200The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 120 unitson hand. Using the average-cost method, the value of ending inventory isO $2400.O $2472.O $2440.O $2328.

Total units of July month = 72 + 252 + 36 = 360 units Average cost = Total cost / Total units…

Answered: Current Attempt in Progress Suppose…

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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