Following are inventory data for 1999 for Kintech Company: 1. January 1 inventory on hand, 400 units

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Following are inventory data for 1999 for Kintech Company:

1. January 1 inventory on hand, 400 units @ $\$ 28.80$.

2. January sales were 80 units.

3. February sales totaled 120 units.

4. March 1, purchased 200 units @ \$30.24.

5. Sales for March through August were 160 units.

6. September 1, purchased 40 units @ \(\$ 33.12 7. September through December sales were 180 units.

A physical inventory on December 31, 1999, showed 100 units on hand. Determine the cost of the ending inventory using the weighted-average method under periodic inventory procedure.

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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Question Posted: Jun 16, 2024 04:14 AM

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Following are inventory data for 1999 for Kintech Company: 1. January 1 inventory on hand, 400 units

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Financial Accounting A Business Perspective

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