A company uses the periodic inventory system and had the following activity during the current...
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Accounting
A company uses the periodic inventory system and had the following activity during the current monthly period. Date Activities Units Acquired at Cost Units Sold at Retail November 1 Beginning inventory 180 units @ $20 = $3,600 November 5 Purchase 140 units @ $22 = $3,080 November 8 Purchase 90 units @ $23 = $2,070 November 16 Sales 280 units @ $45 November 19 Purchase 90 units @ $25 = $2,250 Using the weighted-average inventory method, the company's ending inventory would be:
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