Question
Lesnik Corp. had beginning inventory in January of Year 13 of 10,000 units costing $1 each. On January 14, 4,000 units were purchased costing $3
Lesnik Corp. had beginning inventory in January of Year 13 of 10,000 units costing $1 each. On January 14, 4,000 units were purchased costing $3 each. On March 20, 8,000 units were sold. On December 22, 6,000 more units were purchased at $6 each. If Lesnik Corp. uses a periodic system, Lesnik Corp. would report ending inventory using the weighted average method in the amount of:
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
