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23 March, 08:24

Sunland Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:

Units Per unit price Total

Balance, 1/1/2017 290 $5.00 $1450

Purchase, 1/15/2017 140 ... 5.10 714

Purchase, 1/28/2017 140 ... 5.30 742

An end of the month (1/31/2017) inventory showed that 230 units were on hand. How many units did the company sell during January 2017?

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  1. 23 March, 08:38
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    Total units sold = 340 units sold

    Explanation:

    Giving the following information:

    Beginning inventory: 290u*$5.00 = $1450

    Purchase, (1/15/2017) = 140u*5.10 = $714

    Purchase, (1/28/2017) = 140u*5.30 = $742

    Ending inventory = 230u

    How many units did the company sell during January?

    Total units sold = beginning inventory + purchase - ending inventory = 290 + 280 - 230 = 340 sold
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