pany system recorded the following information: Units Units Cost Total Cost Units On Hand 10,000 16,000 7,000 11.000 1,000,000 1,800,000 Balance on 1/1 10,000 100 300 6,000 9,000 4,000 Purchased on 1/7 Sold on 1/20 Purchased 1/25 50 2,000,000 Under the moving average method, what amount should De Oro report as inventory on

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
Chapter12: Intangibles
Section: Chapter Questions
Problem 3RE: Notting Hill Company incurred the following costs for RD activities: Prepare Notting Hills journal...
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vurnng uie ITOTIT OI Jaliuat y, ve VIU LUIIPally WICIT uses a perpCludi iiventury
system recorded the following information:
Units
Units Cost
Total Cost
Units On Hand
1,000,000
1.800,000
10,000
16,000
Balance on 1/1
10,000
100
Purchased on 1/7
6,000
300
7.000
11.000
Sold on 1/20
9,000
Purchased 1/25
4,000
50
2.000,000
Under the moving average method, what amount should De Oro report as inventory on
lenuany 31?
Transcribed Image Text:vurnng uie ITOTIT OI Jaliuat y, ve VIU LUIIPally WICIT uses a perpCludi iiventury system recorded the following information: Units Units Cost Total Cost Units On Hand 1,000,000 1.800,000 10,000 16,000 Balance on 1/1 10,000 100 Purchased on 1/7 6,000 300 7.000 11.000 Sold on 1/20 9,000 Purchased 1/25 4,000 50 2.000,000 Under the moving average method, what amount should De Oro report as inventory on lenuany 31?
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