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26 A company starts operations with no Inventory at the beginning of a fiscal year and makes purchases of a good for resale five times
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A company starts operations with no Inventory at the beginning of a fiscal year and makes purchases of a good for resale five times during the period at increasing prices. Each purchase is for the same number of units of the good. The purchases and the cost of goods available for sale, appear in the following table. Notice that the price per unit has increased by 140% by the end of the period. Units Price Cost Purchase 1 5 5100 5500 Purchase 2 5 150 250 Purchase 3 5 180 900 Purchase 4 5 200 1,000 Purchase 5 5 240 1.200 Cost of goods available for sale $4350 During the period, the company is a $250 each, all of the goods purchased except for five of them. Although the ending inventory consists of five units, the cost attached to thout units can vary greatly What is the ending inventory value if the company oes the weighted average cost method of inventory costine? OMO OO 870 700 Step by Step Solution
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