Question
Monarch Company uses a weighted-average perpetual inventory system, and has the following purchases and sales: Date Activities Units Acquired at Cost Units Sold at Retail
Monarch Company uses a weighted-average perpetual inventory system, and has the following purchases and sales:
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
|---|---|---|---|
| January 1 | Purchase | 20 units @ $10 = $200 | |
| January 12 | Sales | 12 units sold | |
| January 20 | Purchase | 18 units @ $11 = $198 |
What is the value of ending inventory? (Round average cost per unit to 2 decimal places, and final answer to the nearest dollar.)
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Quicken 2015 For Dummies
Authors: Stephen L. Nelson
1st Edition
1118920139, 978-1118920138
