A company purchased 300 units for $60 each on January 31. It purchased 150 units for $25 each on February 28. It sold a total of 250 units for $70 each from March 1 through December 31. If the company uses the weighted-average inventory costing method, calculate the amount of ending inventory on December 31. (Assume that the company uses a perpetual inventory system. Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company purchased 300 units for $60 each on January 31. It purchased 150 units for $25 each on February 28. It sold a total of 250 units ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Gudenas Company makes a credit card sale to a customer for $500. The credit card sale has a grace period of 30 days and then an interest charge of 18% per year or 1.5% per month is added to the balance.
Answers (1)
How is the russian economy adjusting to the difficulties of a centrally planned economy? a. it is quickly changing the economy so it works better b. it is modifying the economy to include some free market practices c.
Answers (1)
The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances.
Answers (1)
Manley operates a law practice on the accrual method and calendar year. at the beginning of the year manley's firm had an allowance for doubtful accounts with a balance of $15,000.
Answers (1)
Two methods of accounting for uncollectible accounts are the A. direct write-off method and the allowance method. B. allowance method and the accrual method. C. allowance method and the net realizable method. D.
Answers (1)
New Questions in Business
Lawrence has worked in his career field for 20 years. one benefit of his experience over younger employees lies in
Answers (1)
Ingredient lists on gum packages remain somewhat vague, even though these labels fall under federal regulations, because the manufacturers feel their ingredient lists are _[blank]_.
Answers (1)
Kirsten is trying to decide where to go for her well earned vacation. She would like to camp, but if the weather is bad, she will have to go to a motel.
Answers (1)
At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $400 (credit) before adjustment. The balance of Accounts Receivable is $15,000.
Answers (1)
A mutual fund had NAV per share of $19.00 on January 1, 2016. On December 31 of the same year, the fund's NAV was $19.14. Income distributions were $0.57, and the fund had capital gain distributions of $1.12.
Answers (1)