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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 2,000 gallons @ $9.2 per gallon = $18,400 Purchases: Mar. 10 Mar. 16
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 2,000 gallons @ $9.2 per gallon = $18,400 Purchases: Mar. 10 Mar. 16 Mar. 23 800 gals @ $9.25 1,000 gals @ $9.30 800 gals @ $9.35 Sales: Mar. 5 600 gals Mar. 14 900 gals Mar. 20 700 gals Mar. 26 900 gals The ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places) is: Multiple Choice $13,803. $13,885. (0) $13,905. $13,875
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