Ex 6-15 Attached is my questions, this is a practice problem and I am preparing for the midterm.

Ex 6-15 Attached is my questions, this is a practice problem and I am preparing for the midterm.

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Exercise 6-15 Inventory by three methods; cost of merchandise sold
The units of an item available for sale during the year were as follows:
Jan. 10
Inventory
42 units at $180
10-Apr
Purchase
58 units at $195
Sept. 30
Purchase
20 units at $204
Dec. 12
Purchase
30 units at $210
There are 37 units of the item in the physical inventory at December 31. The periodic
inventory system is used. Determine the inventory cost and the cost of merchandise
sold by three methods, presenting your answers in the following form:
Cost
Merchandise Inventory
Merchandise Sold
Inventory Method
a.) First-in, first-out
$
$
b.) Last-in, first-out
c.) Average Cost

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