Question
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Las Lemus, Inc. for an operating period. Units
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Las Lemus, Inc. for an operating period.
|
| Units | Unit Cost |
| Total Cost |
| Units Sold |
| Beginning Inventory | 32 | $36 |
| $1,152 |
|
|
| Sale No. 1 |
|
|
|
|
| 10 |
| Purchase No. 1 | 28 | 40 |
| 1,120 |
|
|
| Sale No. 2 |
|
|
|
|
| 32 |
| Purchase No. 2 | 20 | 38 |
| 760 |
|
|
| Totals | 80 |
|
| $3,032 |
| 42 |
Assuming Las Lemus, Inc. uses weighted-average (periodic) inventory procedures, the ending inventory cost is:
| A. | $1,444.00 | |
| B. | $1,594.80 | |
| C. | $1,442.00 | |
| D. | $1,440.20 |
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Where Does Money Grow
Authors: Beth McGuinness
1070202150, 978-1070202150
