Inventory records for Roy Company revealed the following:

Date          Transaction               Number of Units         Unit Cost

March 1 Beginning Inventory    1,000 $                              7.20

March 10 Purchase                        600                                   7.25

March 16 Purchase                          800                                  7.30

March 23 Purchase                           600                                  7.35

Roy sold 2,300 units of inventory during the month. What is the ending inventory assuming weighted-average cost? 

Answer rating: 100% (QA)

Answer I The weighted average cost is a method used to calculate the cost of goods sold and ending i... View the full answer