A start-up company using the moving-average method has the following profile for a month: no beginning inventory
Fantastic news! We've Found the answer you've been seeking!
Question:
A start-up company using the moving-average method has the following profile for a month:
- no beginning inventory
- purchases of 10,000 units at $1 per unit in the first week
- purchases of 15,000 units at $1.50 per unit in the third week
- purchase of 12,000 units at $1.40 per unit and sales of 13,000 units on the last day of the month
What is this month's ending balance in the inventory account, rounded to the nearest hundred?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: