Question
A company made the following merchandise purchases and sales during the month of May: May 1 purchased 380 units at $15 each May 5 purchased
A company made the following merchandise purchases and sales during the month of May:
May 1 purchased 380 units at $15 each
May 5 purchased 270 units at $17 each
May 10 sold 400 units at $ 50 eaach
May 20 purchased 300 units at $22 each
May 25 sold 400 units at $ 50 each
There was no beginning inventory. If the company uses the weighted average inventory valuation method and the perpetual inventory system, what would be the cost of its ending invenotry?
Please provide me with all calculations and detailed explanation. Put all the info in the table, so it would be easier to understand. Thank you.
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