were: Feb. 20 May 5 630 (a) 535 units at $8 units at $9 Aug. 12 Dec. 8 Determine the cost of goods available for sale. The cost of goods available for sale 445 $ 120 Cullumber Company uses a periodic inventory system. Sales totaled 1,500 units. units at units at $10 $11 $7 per During the yea

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.