Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume beginning inventory of $25,000 (250 units),

Assume beginning inventory of $25,000 (250 units), a purchase on January 3 of $35,000 (300...

70.2K

Verified Solution

Question

Accounting

Assume beginning inventory of $25,000 (250 units), a purchase on January 3 of $35,000

(300 units), and a purchase on January 18 of $40,000 (310 units). 500 units were sold on

January 15. Using perpetual average system, ending inventory is:

A. $45,000.

B. $45,455.

C. $46,451.

D. $45,833.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The Olsen Mining Company has been very successful in the last five years. Its $1,000 par...

Finance
Q

The post illustrates one example of the intersection of biography and history. What examples does Mills...

Psychology
Q

Crystal Displays Inc. recently began production of a new product, flat panel displays, which required the...

Accounting
Q

Which organisms are most closely related to humans?spidersearthwormsparakeetsmeerkatssnakes

Biology
Q

recent year 365 days there were 614 murders in a city Find the mean number...

Statistics
Q

2 Each day a local dog shelter spends an average of 2 40 on food...

Algebra
Q

The bookkeeper for Crane Company has prepared the following balance sheet as of July 31,...

Accounting
Q

Blue Corporation was formed 5 years ago through a public subscription of common stock. Daniel...

Accounting
Q

Question 2 Gerald Baldwin, CPA, is the Controller for Wingham Enterprises. When he reviewed the...

Accounting
Q

Nelson Company experienced the following transactions during Year 1, its first year in operation ...

Accounting
Q

Adjusting Entries Date Sept 30, Year 2 Sept 30, Year 2 Sept 30, Year 2...

Accounting
Q

Oak Corporation's financial statements for the current year showed the following: (Round your answers to...

Accounting