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Raptor Candles has the following inventory schedule for its luxury line of candles. Date quantity unit cost Sales Price Beginning inventory 3/1/2023 60 $40 Purchase
Raptor Candles has the following inventory schedule for its luxury line of candles.
Date | quantity | unit cost | Sales Price | |
---|---|---|---|---|
Beginning inventory | 3/1/2023 | 60 | $40 | |
Purchase | 3/3/2023 | 70 | $50 | |
Purchase | 3/15/2023 | 25 | $55 | |
Purchase | 3/20/2023 | 200 | $65 | |
Sale | 3/10/2023 | 150 | $120 |
Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent.
Weighted Average cost at the end of the month ${WAC}. :
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