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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,100 gallons @ $7.4 per gallon = $8,140 Purchases: Mar. 10 Mar. 16
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,100 gallons @ $7.4 per gallon = $8,140 Purchases: Mar. 10 Mar. 16 Mar. 23 620 gals @ $7.45 620 gals 820 gals @ $7.50 620 gals @ $7.55 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 420 gals 720 gals 520 gals 720 gals The ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places) is: Multiple Choice $5,823. o o $5,843. $5,813. $5,741
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