The following information was available from the inventory records of Waterway Industries for January: ...
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Accounting
The following information was available from the inventory records of Waterway Industries for January:
Units
Unit Cost
Total Cost
Balance at January 1
8800
$9.80
$86240
Purchases:
January 6
5800
10.22
59276
January 26
8000
10.76
86080
Sales
January 7
(7700
)
January 31
(11000
)
Balance at January 31
3900
Assuming that Waterway maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)
$39965.
$40533.
$40054.
$40655.
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