s Intercontinental Inc., uses a periodic inventory system. At the end of Year 2, the account records provided the following information. relating to one of its products. Inventory, December 31, Year 1 For Year 2: Purchase, March 21, Year 2 Purchase, August 1, Year 2 Inventory, December 31, Year 2 Units 1,830 6,200 4,070 2,910 Unit Cost $6 $5 $3 What is the amount of ending inventory and cost of goods sold under the average cost inventory costing method? (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)

s Intercontinental Inc., uses a periodic inventory system. At the end of Year 2, the account records provided the following information. relating to one of its products. Inventory, December 31, Year 1 For Year 2: Purchase, March 21, Year 2 Purchase, August 1, Year 2 Inventory, December 31, Year 2 Units 1,830 6,200 4,070 2,910 Unit Cost $6 $5 $3 What is the amount of ending inventory and cost of goods sold under the average cost inventory costing method? (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)

Name: esIntercontinental Inc., uses a periodic inventory system. At the end
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Description: esIntercontinental Inc., uses a periodic inventory system. At the end of Year 2, the account records provided the following informationrelating to one of its products.Inventory, December 31, Year 1For Year 2:Purchase, March 21, Year 2Purchase, Augus

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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Subject: accounting