Question: Determine the ending inventory using the periodic inventory system and the weighted average cost method (rounded to the nearest cent or two decimal places) ,
Determine the ending inventory using the periodic inventory system and the weighted average cost method (rounded to the nearest cent or two decimal places), assuming that 19 units were sold at a price of $18.
| Date | Item | Units | Cost | Total |
|---|---|---|---|---|
| June 1 | Beginning inventory | 7 | $9 | $63 |
| June 12 | Purchase | 13 | 10 | 130 |
| June 18 | Purchase | 6 | 11 | 66 |
| Totals | 26 | $259 |
a.$189.24
b.$69.72
c.$258.96
d.$66.00
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