Question
Davidson Electronic's has the following: Inventory, Jan. 1 --- 5,000 units at $8 each Purchase, April 2 --- 15,000 units at $10 each Purchase, Aug
Davidson Electronic's has the following:
Inventory, Jan. 1 --- 5,000 units at $8 each
Purchase, April 2 --- 15,000 units at $10 each
Purchase, Aug 28 --- 20,000 units at $12 each
If Davidson has 7,000 units on hand at December 31, how much is the cost of ending inventory under the average-cost method in a periodic inventory system?
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
