Question
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The units of anitem available for sale during the year were as follows: |
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1-Jan |
Inventory |
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21 units at $180 |
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10-Mar |
Purchase |
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29 units at $195 |
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30-Aug |
Purchase |
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10 units at $204 |
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Dec |
Purchase |
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15 units at $210 |
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There are 24 units of the itemin the physical inventory at December 31. Ther periodic inventorysystem is used. |
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Determine the inventory costand the cost of merchandise sold by three methods presenting youranswers in the following form: |
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Cost |
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InventoryMethod |
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MerchandiseInventory |
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Merchandise Sold |
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