Question
A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and
- A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and sales were recorded during January.
Date 2 Jan 12 Jan 21 Jan 29 Jan
Issues 250 400 200 75
The purchase cost of receipts was $25.75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of January.
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
10th Edition
0072316373, 978-0072316377
