Question II {18 marks}

A Company sells many products. A Sound is one of its popular items. Below is an analysis of the inventory purchases and sales of the Sound for the month of September. The Company uses the perpetual inventory system.

b) Using the moving average cost method, calculate the ending inventory at September 30. Show calculations and use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer

A Company sells many products. A Sound is one of its popular items. Below is an analysis of the inventory purchases and sales of the Sound for the month of September. The Company uses the perpetual inventory system. Purchases Units Unit Cost 600 $40 100 60 Sales Selling Price/Unit Units Sept 190 $80 100 66 1 3 4 10 16 19 25 30 Beginning inventory Purchase Sales Purchase Sales Sales Sales Purchase 275 220 75 120 120 120 460 75