Question
The following amounts and costs of serving bowls were available for sale by Carls Pottery during 2021: Beginning inventory 20 units at $45 First purchase
The following amounts and costs of serving bowls were available for sale by Carls Pottery during 2021:
| Beginning inventory | 20 units at $45 |
| First purchase | 15 units at $50 |
| Second purchase | 40 units at $55 |
| Third purchase | 25 units at $60 |
Carls has 20 bowls on hand at the end of the year.
What is the dollar amount of inventory at the end of the year according to the average cost method?
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Horngrens Accounting The Financial Chapters
Authors: Tracie Miller Nobles, Brenda Mattison
13th Edition
0136162185, 9780136162186
