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Riverbed Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for
Riverbed Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Riverbed Company uses the periodic inventory system. Sales Purchases Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 110 $ 30 3/3 Purchase 63 $ 40 3/4 Sales 63 $70 3/10 Purchase 220 $ 45 3/16 Sales 71 $80 3/19 Sales 102 $ 80 3/25 Sales 63 $ 80 3/30 Purchase 47 $ 50 Using the weighted average method calculate the amount assigned to the inventory on hand on March 31. (Round intermediate calculation and final answer to O decimal places, eg. 12.) Ending Inventory $
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