The following units of an inventory item were available for sale during the year: Beginning inventory 9 units at $52 First purchase 19 units at $54 Second purchase 26 units at $55 Third purchase 13 units at $57 The firm uses the periodic inventory system. During the year, 22 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is (Round average cost per unit to three decimal places.) Oa. $1,170 Ob. $1,144 OC. $2,462 Od. $1,236

The following units of an inventory item were available for sale during the year: Beginning inventory 9 units at $52 First purchase 19 units at $54 Second purchase 26 units at $55 Third purchase 13 units at $57 The firm uses the periodic inventory system. During the year, 22 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is (Round average cost per unit to three decimal places.) Oa. $1,170 Ob. $1,144 OC. $2,462 Od. $1,236

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Description: The following units of an inventory item were available for sale during the year:- **Beginning inventory:** 9 units at $52- **First purchase:** 19 units at $54- **Second purchase:** 26 units at $55- **Third purchase:** 13 units at $57The firm uses t

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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