company reports the following merchandise purchases and sales for the month of May. Date Activities May...

 

Transcribed Image Text:

company reports the following merchandise purchases and sales for the month of May. Date Activities May 1 May 5 Purchase Purchase May 10 May 20 May 25 Sales Purchase Sales Units Acquired at Cost 300 units @ $15 $4,500 310 units @ $18 = $5,580 Units sold at Retail. 384 units @ $50 390 units @ $22 $8,580 416 units @ $50 There was no beginning inventory. If the company uses the weighted average periodic method, what would be the cost of ending inventory? Note: Round average cost per unit to two decimal places. company reports the following merchandise purchases and sales for the month of May. Date Activities May 1 May 5 Purchase Purchase May 10 May 20 May 25 Sales Purchase Sales Units Acquired at Cost 300 units @ $15 $4,500 310 units @ $18 = $5,580 Units sold at Retail. 384 units @ $50 390 units @ $22 $8,580 416 units @ $50 There was no beginning inventory. If the company uses the weighted average periodic method, what would be the cost of ending inventory? Note: Round average cost per unit to two decimal places.