Question
A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory 114 Units @ $30
A company uses the periodic inventory system and had the following activity during the current monthly period.
November 1: Beginning inventory 114 Units @ $30
November 5: Purchased 26 64 Units @ $64
November 8: Purchased 30 Units @ $182
November 16: Sold 115 Units @ $85
November 19: Purchased 30 Units @ $25
Using the weighted-average inventory method, the company's ending inventory would be:
Multiple Choice
$4,029
$3,289
$2,060
$2,810
$1,969
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Answer 2060 Show your working step by step 114 units 30 3420 26 units 64 1664 30 units 182 5...Get Instant Access to Expert-Tailored Solutions
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
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