Lee Ltd. has the following units and costs for the month of April. Beginning inventory, April 1, 1,000 units at $20 (Cost) Purchase 1, April 9, 1,200 units at $23 (cost) Sold 1, April 12, 2,100 units at $40 (Retail) Purchase 2, April 22, 800 units at $25 (Cost) If Lee uses a periodic inventory system, what is the cost of ending inventory under weighted average at April 30? (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.) a.$20,280 b.$22,164 c.$45,436 d.$47,320

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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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Lee Ltd. has the following units and costs for the month of April.

  1. Beginning inventory, April 1, 1,000 units at $20 (Cost)
  2. Purchase 1, April 9, 1,200 units at $23 (cost)
  3. Sold 1, April 12, 2,100 units at $40 (Retail)
  4. Purchase 2, April 22, 800 units at $25 (Cost)

If Lee uses a periodic inventory system, what is the cost of ending inventory under weighted average at April 30? (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

a.$20,280
b.$22,164
c.$45,436
d.$47,320
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