Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Inventory 21 units at $1,800 each Purchase. 29 units at $1,950 each Purchase 14 units at $2,040 each Purchase 17 units at $2,100 each There are 19 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Jan. 1 June 9 July 28 Nov, 1 D

Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Inventory 21 units at $1,800 each Purchase. 29 units at $1,950 each Purchase 14 units at $2,040 each Purchase 17 units at $2,100 each There are 19 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Jan. 1 June 9 July 28 Nov, 1 D

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Description: Inventory by Three Methods; Cost of Goods SoldThe units of an item available for sale during the year were as follows:Jan. 1Inventory21 units at $1,800 eachPurchase29 units at $1,950 eachJuly 28Purchase14 units at $2,040 eachNov. 1 Purchase. 17 unit

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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