1. Binder Company made several purchases and sales of inventory over their first year of business....

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1. Binder Company made several purchases and sales of inventory over their first year of business. At the end of the year, a review of invoices indicated a total of 45,650 units of inventory had been purchased, at a total cost of $316,811.00. A count of ending inventory showed 8510 units remaining. If Binder Company uses the Weighted Average method of valuing inventory, and the Periodic inventory system, a. What is the value of ending inventory? (2 marks) b. What is the total COGS for the year? (1 mark) I 1. Binder Company made several purchases and sales of inventory over their first year of business. At the end of the year, a review of invoices indicated a total of 45,650 units of inventory had been purchased, at a total cost of $316,811.00. A count of ending inventory showed 8510 units remaining. If Binder Company uses the Weighted Average method of valuing inventory, and the Periodic inventory system, a. What is the value of ending inventory? (2 marks) b. What is the total COGS for the year? (1 mark) I

Answer rating: 100% (QA)

a To calculate the value of ending inventory using the weighted average method we need to first calc... View the full answer