Question

A company uses the periodic inventory system and had the following activity during the current monthly...

A company uses the periodic inventory system and had the following activity during the current monthly period.

November 1:

Beginning inventory

110 Units @ $10

November 5:

Purchased

110 Units @ $26

November 8:

Purchased

60 Units @ $25

November 16:

Sold

166 Units @ $95

November 19:

Purchased

65 Units @ $20


Using the weighted-average inventory method, the company's ending inventory would be:

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Answer #1

Cost of Ending Inventory = $3506.61

Calculation:

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