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Cullumber Manufacturing Company began business in June and made the following four inventory purchases: June 1 126 units $1008 June 10 June 15 168
Cullumber Manufacturing Company began business in June and made the following four inventory purchases: June 1 126 units $1008 June 10 June 15 168 units 1680 168 units 2016 June 28 126 units 1764 $6468 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 168 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $1680. $2352. $1848. $1344.
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