The Following Lots of a Commodity P Were Available for Sale

question 92

Multiple Choice

The following lots of a Commodity P were available for sale during the year. Use this information to answer the questions that follow.
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The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year.
-What is the year-end inventory balance using the average cost method? Use the information provided in the table to answer this question

• A) $1,380
• B) $1,375
• C) $1,510
• D) $1,250

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