
Concept explainers
Concept Introduction:
Periodic Inventory System:
The periodic inventory system records and updates the inventory at the end of a particular period. The inventory balance is not updated after each transaction and it is updated periodically.
Requirement-1:
To Calculate:
The Ending inventory unit and dollar amount for Raw material inventory in blades
Concept Introduction:
Periodic Inventory System:
The periodic inventory system records and updates the inventory at the end of a particular period. The inventory balance is not updated after each transaction and it is updated periodically.
Requirement-2:
To Calculate:
The Reduction in the

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