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Inventory items that belong in the A category include National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 Ave. Unit Cost P 0.05 1.50 8.50 Invty Item ControlNo. 2 3 4 500 650 45.00 3.50 100.00 0.25 5.00 5 6 10,000 5,100 3,100 20 1,150 7 8 9 10 0.75 2.00 Items 1, 6, and 7. O Items 1 and 7. O Items 3 and 9. Items 4 and 6.

Inventory items that belong in the A category include National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 Ave. Unit Cost P 0.05 1.50 8.50 Invty Item ControlNo. 2 3 4 500 650 45.00 3.50 100.00 0.25 5.00 5 6 10,000 5,100 3,100 20 1,150 7 8 9 10 0.75 2.00 Items 1, 6, and 7. O Items 1 and 7. O Items 3 and 9. Items 4 and 6.

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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Inventory items that belong in the A category include, National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 500 650 Invty Item ControlNo. 1 Ave. Unit Cost P 0.05 1.50 2 3 8.50 45.00 4 5 6 3.50 100.00 0.25 10,000 5,100 3,100 20 1,150 7 8 9 5.00 0.75 10 2.00 O Items 1, 6, and 7. O Items 1 and 7. Items 3 and 9. Items 4 and 6.
Transcribed Image Text:Inventory items that belong in the A category include, National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 500 650 Invty Item ControlNo. 1 Ave. Unit Cost P 0.05 1.50 2 3 8.50 45.00 4 5 6 3.50 100.00 0.25 10,000 5,100 3,100 20 1,150 7 8 9 5.00 0.75 10 2.00 O Items 1, 6, and 7. O Items 1 and 7. Items 3 and 9. Items 4 and 6.
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