Question
Bailey Company's inventory records contain the following information: Beginning Inventory = 300 units purchased for a total cost of $780 Purchase on May 10 =400
Bailey Company's inventory records contain the following information:
Beginning Inventory = 300 units purchased for atotal costof $780
Purchase on May 10 =400 units purchased for atotal costof $1,170
Purchase on June 15 = 500 units purchased for atotal costof $1,260
Purchase on August 28 = 300 units purchased for atotal costof $990
The company sold 1,000 units during the year.
The company had 500 units in its ending inventory at the end of the year.
If Bailey Company uses theweighted average inventory costing method, what is the cost of itsending inventory?
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