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  3. periodic inventory by three methods; cost of goods

Periodic inventory by three methods; cost of goods sold The units of an item available...

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Accounting

Periodic inventory by three methods; cost of goods sold
The units of an item available for sale during the year were as follows:
Jan. 1 Inventory 50 units at \(\$ 112\)
Mar. 10 Purchase \(\quad 70\) units at \(\$ 122\)
Aug. 30 Purchase 10 units at \(\$ 130\)
Dec. 12 Purchase 70 units at \(\$ 132\)
There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.
Cost of Ending Inventory and Cost of Goods Sold
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