Question
during the past year, Sweeter than Honey Inc. sold 920 beehives. Inventory records for the year are as follows: DATE QUANTITY COST TOTAL January 1
during the past year, Sweeter than Honey Inc. sold 920 beehives. Inventory records for the year are as follows:
| DATE | QUANTITY | COST | TOTAL | |
| January 1 | Beginning Inventory | 180 | $38 | $ 6,840 |
| January 30 | Purchase | 300 | 32 | 9,600 |
| March 16 | Purchase | 150 | 12 | 1,800 |
| November 10 | Purchase | 420 | 15 | 6,300 |
| December 14 | Purchase | 400 | 43 | 17,200 |
| Total available for sale | 1,450 | $41,740 |
Using the average cost method of inventory pricing, calculate the dollar value of the ending inventory. (Round your answer to 2 decimal places)
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
978-1259206955, 1259206955, 77862368, 978-0077862367
