Question
A company's inventory records indicate the following data for the month of July: July 1 Beginning 380 units at $15 each July 5 Purchase 270
A company's inventory records indicate the following data for the month of July:
| July 1 | Beginning | 380 units at $15 each |
| July 5 | Purchase | 270 units at $17 each |
| July 10 | Sale | 400 units at $50 each |
| July 20 | Purchase | 300 units at $22 each |
| July 25 | Sale | 400 units at $50 each |
If the company uses the weighted average inventory valuation method and the perpetual inventory system, what would be the cost of its ending inventory? (Round average cost per unit to 2 decimals, and final answer to the nearest dollar.)
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| Purchases | Sales | Balance | ||||||
| Date | Units | Per unit | Total | Units | Per unit | Total | Units | Per unit | Total |
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Supply Chain Management Accounting Managing Profitability Working Capital And Asset Utilization
Authors: Simon Templar
1st Edition
0749472995, 978-0749472993
