Question
Determine the ending inventory using the periodic inventory system and the weighted average cost method (rounded to the nearest cent or two decimal places) ,
Determine the ending inventory using the periodic inventory system and the weighted average cost method (rounded to the nearest cent or two decimal places), assuming that 19 units were sold at a price of $18.
| Date | Item | Units | Cost | Total |
|---|---|---|---|---|
| June 1 | Beginning inventory | 7 | $9 | $63 |
| June 12 | Purchase | 13 | 10 | 130 |
| June 18 | Purchase | 6 | 11 | 66 |
| Totals | 26 | $259 |
a.$189.24
b.$69.72
c.$258.96
d.$66.00
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Pocket CIO The Guide To Successful IT Asset Management Get To Grips With The Fundamentals Of IT Asset Management Software Asset Management And Software License Compliance Audits With This Guide
Authors: Phara Estime McLachlan
1st Edition
1783001003, 978-1783001002
