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Question 8 [ 5 points ] One of the methods permitted by Generally Accepted Accounting Principle for reporting the value of a firm's inventory is
Question pointsOne of the methods permitted by Generally Accepted Accounting Principle for reporting the value of a firm's inventory is weighted average inventory pricing.Cantu Excavating began its fiscal year with an inventory of units valued at $ per unit. During the year it made the purchases listed in the following table.DateFebruary July September Units purchasedUnit cost $At the end of the year, units remained in its inventory. For full marks your answers should be rounded to the nearest cent.Determine:a The weighted average cost of the units purchased during the year.Weighted average cost $ b The weighted average cost of the beginning inventory and all units purchased during the year.Weighted average cost $ c The value of the ending inventory based on the weightedaverage cost calculated in bEnding inventory $
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