Consider the following information:     Units Cost per unit Total costs Goods in inventory at start of year 1,600 $1.92 $3,072 Purchases, quarter 1 800 $1.40 $1,120 Purchases, quarter 2 1,000 $1.60 $1,600 Purchases, quarter 3 1,200 $1.80 $2,160 Purchases, quarter 4 800   $2.00 $1,600     5,400   $9,552     Goods sold during the year: 3000 units Using the weighted-average-cost method, the value of ending inventory is:

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Consider the following information:

 

 

Units

Cost per unit

Total costs

Goods in inventory at start of year

1,600

$1.92

$3,072

Purchases, quarter 1

800

$1.40

$1,120

Purchases, quarter 2

1,000

$1.60

$1,600

Purchases, quarter 3

1,200

$1.80

$2,160

Purchases, quarter 4

800

 

$2.00

$1,600

 

 

5,400

 

$9,552

 

 

Goods sold during the year: 3000 units


Using the weighted-average-cost method, the value of ending inventory is:

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