In its first month of operations, Blossom Company made three purchases of merchandise in the...
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Accounting
In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: (1) 700 units at $2, (2) 800 units at $4, and (3) 1,000 units at $5. Assuming there are 600 units on hand at the end of the period. Blossom uses a periodic inventory system. Compute the cost of the ending inventory under the average-cost method. (Round the cost per unit to 3 decimal places, e.g. 8.875 and the final answer to 0 decimal places, e.g. 5,275.)
Cost of the ending inventory
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