Ending inventory consists of 1,200 units at weighted average cost of $42 per unit and the...

 

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Ending inventory consists of 1,200 units at weighted average cost of $42 per unit and the usual selling price is $60 per unit. It is discovered that 1,000 units are damaged and the estimated selling price of these inventory is $50 per unit. Repair costs of $10 per unit is to be incurred before these inventories can be sold. Required: Calculate the ending inventory value to be reported in the financial statements at the end of the year. D. D (5 marks) Ending inventory consists of 1,200 units at weighted average cost of $42 per unit and the usual selling price is $60 per unit. It is discovered that 1,000 units are damaged and the estimated selling price of these inventory is $50 per unit. Repair costs of $10 per unit is to be incurred before these inventories can be sold. Required: Calculate the ending inventory value to be reported in the financial statements at the end of the year. D. D (5 marks)

Answer rating: 100% (QA)

Usual Selling Price 60 per unit Weighted Average Cost 42 per unit Damaged Units 1000 units Estimated ... View the full answer