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  3. xyz incorporated purchased the following merchandi

XYZ Incorporated purchased the following merchandise items for resale: Nov 1:...

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Accounting

XYZ Incorporated purchased the following merchandise items for resale:

Nov 1: 10 units @ $105 each

Nov 5: 15 units @ $110 each

Nov 15: 10 units @ $100 each

Nov 27: 10 units @ $120 each

If XYZ sells all of their current inventory on Nov 17 and uses the specific identification method of inventory valuation/costing. What amount would appear on the ending inventory balance at the end of the period?

If XYZ sells all of their inventory on Nov 28 utilizes the Average Costing method of inventory valuation/costing. What amount would appear on the ending inventory balance at the end of the period?

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