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Consider the following inventory records for Techwear Corporation: Date Transaction Number of Units Unit Cost Jul. 1 Beginning inventory 480 $ 2.47 Jul. 22 Purchase
Consider the following inventory records for Techwear Corporation: Date Transaction Number of Units Unit Cost Jul. 1 Beginning inventory 480 $ 2.47 Jul. 22 Purchase 350 2.77 The company sold 570 units of inventory during the month. Calculate the ending inventory assuming the company uses weighted-average cost. (Round weighted-average unit cost to 4 decimal places and final answer to the nearest dollar amount.)
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