Multiple Choice Question 79

Marigold Corp. has the following inventory data:

July 1 Beginning inventory 40 units at $20 $800 7 Purchases 180 units at $21 3780 22 Purchases 30 units at $22 660 $5240

A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the average cost method, the value of ending inventory (rounded to whole dollar) is

$1080.

$1100.

$1048.

$1050.