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Edwards Corp. uses the average cost retail inventory method and reports the following information: Cost Retail Beginning inventory $3,000 $4,000 Purchases $21,000 $25,000 Net markups
Edwards Corp. uses the average cost retail inventory method and reports the following information:
| Cost | Retail | |
| Beginning inventory | $3,000 | $4,000 |
| Purchases | $21,000 | $25,000 |
| Net markups | $2,000 | |
| Net markdowns | $1,000 | |
| Sales | $23,000 |
What is the Average Cost value of ending inventory for Edwards Corp.?
$5,880 $6,750 $5,600 $5,250
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