Question
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,050 gallons @ $7.3 per gallon = $7,665 Purchases: Mar. 10 Sales:
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,050 gallons @ $7.3 per gallon = $7,665 Purchases: Mar. 10 Sales: 610 gals @ $7.35 Mar. 5 410 gals Mar. 16 810 gals @ $7.40 Mar. 14 710 gals Mar. 23 610 gals @ $7.45 Mar. 20 510 gals Mar. 26 710 gals The ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places) is: Multiple Choice $5,451. $5,471. $5,441. $5,369.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
125972266X, 9781259722660
