Business, 20.03.2020 09:58 nikidastevens36

Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. TransactionsUnits Unit Cost Beginning inventory, January 1 230 $22 Transactions during the year: a. Purchase on account, March 2 315 24 b. Cash sale, April 1 ($38 each) (380) c. Purchase on account, June 30 280 28 d. Cash sale, August 1 ($38 each) (85)

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