Question
Splish Brothers Inc. has the following inventory data: July 1 Beginning inventory 44 units at $23 $1012 7 Purchases 142 units at $24 3408 22
Splish Brothers Inc. has the following inventory data:
| July 1 | Beginning inventory | 44 units at $23 | $1012 | |||
| 7 | Purchases | 142 units at $24 | 3408 | |||
| 22 | Purchases | 44 units at $25 | 1100 | |||
| $5520 |
A physical count of merchandise inventory on July 30 reveals that there are 68 units on hand. Using the average cost method, the value of ending inventory is
|
| $1632. |
|
| $1676. |
|
| $1632. |
|
| $1700. |
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Managerial Accounting Selected Chapters For The University Of Oklahoma
Authors: Unknown Author
12th Edition
0077218256, 978-0077218256
