Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retall Jan. 1 Beginning inventory.. 40 units @ $2 =$ 80 Jan. 3 Sales.... 30 units @ $8 Feb. 14 Purchase.. 70 units @ $3= $210 Feb. 15 Sales.. 60 units @ $8 June 30 Purchase. 90 units @ $4 = $360 Nov. 6 Sales.. 86 units @ $8 Nov. 19 Purchase.. 20 units @ $5 = $100 %3D Totals 220 units $750 176 units

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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.