Question 4

View Policies Current Attempt in Progress In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 700 units at $10, (2) 800 units at $12, and (3) 1,000 units at $13. Assuming there are 600 units on hand at the end of the period. Crane uses a periodic inventory system. Compute the cost of the ending inventory under the average-cost method. (Round the cost per unit to 3 decimal places, e.g. 8.875 and the final answer to 0 decimal places, e.g. 5,275.) Cost of the ending inventory $