Periodic Inventory by Three Methods The units of an item available for sale during the...
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Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 6 units at $47 Feb. 17 Purchase 17 units at $48 Jul. 21 Purchase 7 units at $49 Nov. 23 Purchase 10 units at $49 There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to one decimal and final answers to the nearest whole dollar, if required.
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