Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 13 (2 points) Green Inc. uses the average cost formula in a perpetual inventory system. Below is its inventory record for the month
Question 13 (2 points) Green Inc. uses the average cost formula in a perpetual inventory system. Below is its inventory record for the month of June, 2021: Jun 1 Beginning inventory 20 units @ $19.00 per unit Purchase 100 units @ $22.00 per unit 70 units @$28 per unit 80 units @ $22.31 per unit Jun 5 Jun 8 Sale Jun 9 Purchase Jun 10 Sale 25 units @ $27 per unit Jun 22 Sale 40 units @ $26 per unit Green Inc. has an ending inventory on June 30 of: (Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.) $1,450.15. $1,418.56. $1,429.90. $1,370.00.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started