Question
The following information is available for Maddow Inc. DateUnitsUnit CostJanuary 1, 2020 (beginning inventory)113$50.00Purchases: January 10, 20207052.50January 15, 2020 15254.00January 30, 2020 9056.00 The company
The following information is available for Maddow Inc.
DateUnitsUnit CostJanuary 1, 2020 (beginning inventory)113$50.00Purchases: January 10, 20207052.50January 15, 2020
15254.00January 30, 2020
9056.00
The company maintains a periodic inventory system. A physical inventory count shows 125 units in stock on January 31. What is (a) ending inventory on January 31,using the average cost method?
- Round unit cost to two decimal places in your calculations.
- Round your final answers below to the nearest whole dollar.
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Microsoft Excel For Accounting The First Course
Authors: L Murphy Smith, Katherine Smith
1st Edition
0130085529, 978-0130085528
