The records of Rami co. show the following data on June 30, 2020, During the month inventory Sold on June 30 was 120 units.DateExplanationUnitUnit CostTotal Cost1/6Beginning inventory60OMR 510/6Purchase507on15/6Purchase5025/6Purchase70Using the Average Method of Inventory, the Cost of Ending inventory is:Select one:O a. OMR 503O b. OMR 803Oc OMR 603d. OMR 903Oe. OMR 700

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Description: The records of Rami co. show the following data on June 30, 2020, During the month inventory Sold on June 30 was 120 units.DateExplanationUnitUnit CostTotal Cost1/6Beginning inventory60OMR 510/6Purchase507on15/6Purchase5025/6Purchase70Using the Aver

Average Method:-It is the cost calculated by dividing the total cost by the total number of units.…

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The records of Rami co. show the following data on June 30, 2020, During the month inventory Sold on June 30 was 120 units. Date Explanation Unit Unit Cost Total Cost 1/6 Beginning inventory 60 OMR 5 10/6 Purchase 50 15/6 Purchase 50 25/6 Purchase 70 19 Using the Average Method of Inventory, the Cost of Ending inventory is: Select one: O a. OMR 503 O b. OMR 803 Oc. OMR 603 O d. OMR 903 Oe. OMR 700

The records of Rami co. show the following data on June 30, 2020, During the month inventory Sold on June 30 was 120 units. Date Explanation Unit Unit Cost Total Cost 1/6 Beginning inventory 60 OMR 5 10/6 Purchase 50 15/6 Purchase 50 25/6 Purchase 70 19 Using the Average Method of Inventory, the Cost of Ending inventory is: Select one: O a. OMR 503 O b. OMR 803 Oc. OMR 603 O d. OMR 903 Oe. OMR 700

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PB: DeForest Company had the following transactions for the month. Calculate the ending inventory dollar...

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