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Inventory records for Herb's Chemicals revealed the following: March 1, 2024, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: March 10 790
Inventory records for Herb's Chemicals revealed the following:
March 1, 2024, inventory: 1,950 gallons @ $9.10 per gallon = $17,745
Purchases: | Sales: | ||
---|---|---|---|
March 10 | 790 gallons @ $9.15 | March 5 | 590 gallons |
March 16 | 990 gallons @ $9.20 | March 14 | 890 gallons |
March 23 | 790 gallons @ $9.25 | March 20 | 690 gallons |
March 26 | 890 gallons |
The ending inventory under a periodic inventory system assuming average cost is:
$13,369.
$13,389.
$13,287.
$13,359.
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