The following information was available from the inventory records of Sheffield Corp. for January: Units Unit Cost Total Cost Balance at January 1 9100 $9.74 $88634 Purchases: January 6 6000 10.35 62100 January 26 8300 10.73 89059 Sales January 7 (7600 ) January 31 (11200 ) Balance at January 31 4600 Assuming that Sheffield maintains perpetual inventory records, what should be the inventory at January 31, using the movin average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.) O $47138. O $47244. O $48550. O $47725.

The following information was available from the inventory records of Sheffield Corp. for January: Units Unit Cost Total Cost Balance at January 1 9100 $9.74 $88634 Purchases: January 6 6000 10.35 62100 January 26 8300 10.73 89059 Sales January 7 (7600 ) January 31 (11200 ) Balance at January 31 4600 Assuming that Sheffield maintains perpetual inventory records, what should be the inventory at January 31, using the movin average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.) O $47138. O $47244. O $48550. O $47725.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PB: Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20,...

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