Inventory items that belong in the A category include National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 Ave. Unit Cost P 0.05 1.50 8.50 Invty Item ControlNo. 2 3 4 500 650 45.00 3.50 100.00 0.25 5.00 5 6 10,000 5,100 3,100 20 1,150 7 8 9 10 0.75 2.00 Items 1, 6, and 7. O Items 1 and 7. O Items 3 and 9. Items 4 and 6.

Inventory items that belong in the A category include National has 10 different items in its inventory. The average number ofunits held in inventory and the average unit cost are listed for each item. The firm uses an ABC system of inventory control Ave. No. of Units 5,000 2,000 100 Ave. Unit Cost P 0.05 1.50 8.50 Invty Item ControlNo. 2 3 4 500 650 45.00 3.50 100.00 0.25 5.00 5 6 10,000 5,100 3,100 20 1,150 7 8 9 10 0.75 2.00 Items 1, 6, and 7. O Items 1 and 7. O Items 3 and 9. Items 4 and 6.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...

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