In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence:

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In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand, compute the cost of the ending inventory under the average-cost method. (Round weighted-average unit cost to three decimal places.)

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Financial Accounting

ISBN: 9781119594598

11th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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