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Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 260 $
Maxim Corp. has provided the following information about one of its products:
Date | Transaction | Number of Units | Cost per Unit | ||||||
1/1 | Beginning Inventory | 260 | $ | 152 | |||||
6/5 | Purchase | 460 | $ | 172 | |||||
11/10 | Purchase | 160 | $ | 212 | |||||
During the year, Maxim sold 520 units.
What is ending inventory using the average cost method? (Do not round intermediate computations.)
$77,120.
$62,411.
$79,120.
$64,411.
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