Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Gregory Company uses the periodic inventory procedure and had the following beginning inventory and purchases during 2018: Beginning inventory 700 units @ $6.50 $4,550
The Gregory Company uses the periodic inventory procedure and had the following beginning inventory and purchases during 2018: Beginning inventory 700 units @ $6.50 $4,550 Purchase in April 450 units @ $6.00 2,700 Purchase in June 600 units @ $7.50 4,500 1,750 $11,750 At the end of the year, the company had 800 units. What is the cost of the ending inventory under the weighted-average inventory method? (Select the closest answer.) Group of answer choices $ 4,550 $ 5,371 $11,750 $ 5,333
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started