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In its first month of operations, Ivanhoe Company made three purchases of merchandise in the following sequence: (1) 650 units at $8. (2) 750
In its first month of operations, Ivanhoe Company made three purchases of merchandise in the following sequence: (1) 650 units at $8. (2) 750 units at $10, and (3) 850 units at $11. Ivanhoe uses a periodic inventory system. Calculate weighted-average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost $ eTextbook and Media Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to O decimal places, eg. 125.) Cost of the ending inventory
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