Numeric Company uses the periodic inventory method and had no beginning inventory. The company purchased 7...
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Numeric Company uses the periodic inventory method and had no beginning inventory. The company purchased 7 units of inventory at $8 per unit during January, 5 units of inventory at $10 per unit during February, and 6 units of inventory at $11.00 per unit during June. The company sold 6 units of inventory during October. There were no additional purchases or sales during the remainder of the year. If Numeric Company uses the weighted average method, what is the cost of its ending inventory? (Round "per unit cost" to 2 decimal places and final answer to the nearest whole dollar.) Ending inventory Numeric Company uses the periodic inventory method and had no beginning inventory. The company purchased 7 units of inventory at $8 per unit during January, 5 units of inventory at $10 per unit during February, and 6 units of inventory at $11.00 per unit during June. The company sold 6 units of inventory during October. There were no additional purchases or sales during the remainder of the year. If Numeric Company uses the weighted average method, what is the cost of its ending inventory? (Round "per unit cost" to 2 decimal places and final answer to the nearest whole dollar.) Ending inventory
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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