Date Cost Total Cost January 1 Beginning Inventory 50 $1,350 $67,500 April 13 Purchase 300 1,266 379,800 May 2 Purchase 300 1,218 365,400 September 7 Purchase 250 1,302 325,500 November 18. Purchase 400 1,206 482,400 Total available for sale 1,300 $1,620,600 Using the average cost method of inventory pricing, calculate the dollar value of the ending inventory. (Round your answer to the nearest cent.) Qty
Date Cost Total Cost January 1 Beginning Inventory 50 $1,350 $67,500 April 13 Purchase 300 1,266 379,800 May 2 Purchase 300 1,218 365,400 September 7 Purchase 250 1,302 325,500 November 18. Purchase 400 1,206 482,400 Total available for sale 1,300 $1,620,600 Using the average cost method of inventory pricing, calculate the dollar value of the ending inventory. (Round your answer to the nearest cent.) Qty
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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