Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. periodic inventory by three methods; cost of merch

Periodic Inventory by Three Methods; Cost of Merchandise Sold Periodic Inventory by Three...

80.2K

Verified Solution

Question

Accounting

Periodic Inventory by Three Methods; Cost of Merchandise Sold

image

Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item avallable for sale during the year were as follows Jan.1 Inventory Mar. 10 Purchase Aug. 30 Purchase Dec. 12 Purchase There are 80 units of the Item In the physical Inventory at December 31. The perlodic Inventory system Is used Determine the Inventory cost and the cost of merchandise sold by three methods. Round Interlm calculations to one declma andfinal answers to the nearest whole dollar. 50 units$114 60 units $124 20 units $128 70 units $130 Inventory Method Merchandise Inventory Merchandise Sold Welghted average cost

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students