The cost of ending inventory under periodic average method is: (two decimal places for unit cost; round of final answer - nearest peso) (SHOW YOUR SOLUTION)

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
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The cost of ending inventory under periodic average method is:

(two decimal places for unit cost; round of final answer - nearest peso) (SHOW YOUR SOLUTION)

Tim Keller Inc. is a manufacturer. The activity for Material ENc during August 2021 is shown below:
Date
Balance/Transaction
Units
Cost
Aug. 1
Inventory
Purchase
2,000
3,000
3,600
P39.00
7
36.00
12
Issuance
21
Purchase
4,800
3,800
1,000
38.50
22
Issuance
29
Purchase
39.50
Transcribed Image Text:Tim Keller Inc. is a manufacturer. The activity for Material ENc during August 2021 is shown below: Date Balance/Transaction Units Cost Aug. 1 Inventory Purchase 2,000 3,000 3,600 P39.00 7 36.00 12 Issuance 21 Purchase 4,800 3,800 1,000 38.50 22 Issuance 29 Purchase 39.50
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