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Towing Company employs a periodic inventory system. At July 1. Towing Company had 7,100 units of inventory on hand, with each unit having a cost
Towing Company employs a periodic inventory system. At July 1. Towing Company had 7,100 units of inventory on hand, with each unit having a cost of s13.3a During July, Towing Company recorded the following purchases of inventory July 11 3,900 units purchased at 239299 per unit July 19 2,800 units purchased at ?P??per unit July 22 6,700 units purchased at $16.30 per unit During July, Towing Company sold 10,100 units of inventory to its customers Using FIFO, Towing Company calculated its ending inventory at July 31 to be |equal to $155,660. Using LIFO, Towing Company calculated its ending inventory at July 31 to be equal to $143,600. Calculate the dollar amount of ending inventory shown on Towing Company's July 31 balance sheet using the weighted average method
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