Westcoast Purveyors had 317 computer system in stock at the end of the year. Inventory records show the following information: Date January 1 June 21 August 1 October 22 Beginning Inventory Purchase Purchase Durchag Qty Cost 50 $1,458 50 300 200 1,182 894 1 146 Total Cost $72,900 59,100 268,200 330.300

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.