ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 186

Units

Date
Issued

Received

Cost

On Hand

1/1/14
3,200

Inventory

1/11/14
1,600

Issue
1,600

1/22/14
5,600

Purchase

$6.00

4,000

$7.05

The moving-average unit cost of X inventory at January 31, 2014 is

22) Gross Corporation adopted the dollar-value LIFO method of
inventory valuation on December 31, 2013. Its inventory at that date