Fox Company purchased items of inventory as follows: May 3 100 units @ $3.05 May 10 150

Question:

Fox Company purchased items of inventory as follows:
May 3 100 units @ $3.05
May 10 150 units @ $3.10
May 15 120 units @ $3.15
By the end of the month of May, Fox had sold 125 units. If the company uses the average-cost method of accounting for inventory, what is the amount of the ?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...