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Illini Supplies maintains its hand-held graphing calculator inventory using the perpetual inventory method. The inventory records for May follow: Beginning inventory 20 units @ $105
Illini Supplies maintains its hand-held graphing calculator inventory using the perpetual inventory method. The inventory records for May follow:
Beginning inventory | 20 units @ $105 each | ||
May 12 purchase | 30 units @ $120 each | ||
May 20 sale | 40 units @ $195 each | ||
May 25 purchase | 15 units @ $115 each |
Using the weighted-average cost method, how much is the May 31 inventory on Illini Supplies balance sheet?
$1,725 | ||
$2,825 | ||
$2,865 | ||
$2,650 |
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