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eBook Show Me How Question Content Area Periodic Inventory Using FIFO, LIFO, and Weighted Average...

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Accounting

eBook Show Me How Question Content Area Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 15 units at $4,000 $60,000 Aug. 7 Purchase 21 units at $4,600 96,600 Dec. 11 Purchase 18 units at $5,100 91,800 Available for sale 54 units $248,400 There are 17 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first

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