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The Sheridan Computer Shop begins operations on June 1 and uses a periodic inventory system. During June, the company had the following purchases for its
The Sheridan Computer Shop begins operations on June 1 and uses a periodic inventory system. During June, the company had the following purchases for its Model 10 Fastback Computer System: Purchases Date Units Units Cost June 1 6 $2400 10 $2600 On June 30 an inventory count showed there were 9 units on hand. Using the weighted average cost formula, the amount allocated to the ending inventory on June 30 is O $22725. O $17675. O $23400. O $22500
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