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A company uses the periodic inventory system and had the following activity during the current monthly period.
| | | |
| November 1: | Beginning inventory | 101 Units @ $25 |
| November 5: | Purchased | 101 Units @ $26 |
| November 8: | Purchased | 51 Units @ $25 |
| November 16: | Sold | 130 Units @ $50 |
| November 19: | Purchased | 20 Units @ $20 |
| |
Using the weighted-average inventory method, the company's ending inventory would be:
Multiple Choice
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$1,675
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$2,525
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$2,925
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$4,200
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$3,576
Answer & Explanation
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