Question
Biscuit Bakery had the following activity in its inventory account during August 20X3. Date Activity Units Cost per Unit Cost Total August 1 Beginning inventory
Biscuit Bakery had the following activity in its inventory account during August 20X3.
Date
Activity
Units
Cost per Unit Cost
Total
August 1
Beginning inventory
100
$3.00
$300
August 3
Purchase
40
3.10
124
August 7
Sale
50
August 12
Purchase
50
3.20
160
August 16
Sale
70
August 23
Sale
40
August 30
Purchase
60
3.30
198
What is is the ending inventory at August31, 20X3, for Biscuit Bakery if the company uses periodic weighted average as its inventory valuation method(round all calculations to the nearestpenny)?
A.
$294.00
B.
$290.22
C.
$281.70
D.
$290.70
E.
$285.60
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Cornerstones Of Cost Accounting
Authors: Don Hansen, Maryanne M. Mowen
1st Edition
053873678X, 978-0538736787
