Question
. Bonita has the following inventory information. July 1 Beginning Inventory 30 units at $ 16 $ 480 7 Purchases 60 units at $ 21
. Bonita has the following inventory information.
| July | 1 | Beginning Inventory | 30 units at $ 16 | $ 480 |
|
| 7 | Purchases | 60 units at $ 21 | 1260 |
|
| 22 | Purchases | 10 units at $ 20 | 200 |
|
|
|
| $ 1940 |
A physical count of merchandise inventory on July 31 reveals that there are 40 units on hand. Using the average-cost method, the value of ending inventory is
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Financial Accounting Cases
Authors: Camillo Lento, Jo-Anne Ryan
3rd Canadian Edition
1119594642, 978-1119594642
