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

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?

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