Question: One of the methods permitted by Generally Accepted Accounting Principles for reporting the value of a firms inventory is weighted-average inventory pricing. The Boswell Corporation

One of the methods permitted by Generally Accepted Accounting Principles for reporting the value of a firm€™s inventory is weighted-average inventory pricing. The
Boswell Corporation began its fiscal year with an inventory of 156 units valued at $10.55 per unit. During the year it made the purchases listed in the following table.

At the end of the year, 239 units remained in inventory. Determine:
a. The weighted-average cost of the units purchased during the year.
b. The weighted-average cost of the beginning inventory and all units purchased during the year.
c. The value of the ending inventory based on the weighted-average cost calculated in b.

Units purchased 300 1000 500 Unit cost (S) 10.86 10.47 10.97 Date February IC0 June 3 August 23

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