Question
Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 205 $
Maxim Corp. has provided the following information about one of its products:
| Date | Transaction | Number of Units | Cost per Unit | ||||||
| 1/1 | Beginning Inventory | 205 | $ | 141 | |||||
| 6/5 | Purchase | 405 | $ | 161 | |||||
| 11/10 | Purchase | 105 | $ | 201 | |||||
During the year, Maxim sold 410 units.
What is ending inventory using the average cost method? (Do not round intermediate computations.)
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Foundations Of Business
Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor
7th Edition
0357717945, 978-0357717943
