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Determine the ending inventory using the periodic inventory system and the weighted average inventory cost flow method (round answers to the nearest cent), assuming 18 units were sold during the period. Date Item Units Cost Total January 1 Beginning inventory 5 $3 $15 January 12 Purchase 10 4 40 January 18 Purchase 8 5 40 Totals 23 $95 a.$20.65 b.$26.40 c.$95.00 d.$74.34

Respuesta :

Answer:

$22.85

Explanation:

PARTICULARS             UNIT    COST   TOTAL COST

Beginning Inventory      5           3                 15

Purchases                      10          4                 40

Purchases                       8          5                 40

Sales                               18        

Ending Inventory             5                              15

Weighted Average Cost = Total Costs of Goods Available for Sale/ Total Units = 105/23 = 4.57

Ending Inventory = 5 units x 4.57 = $22.85      

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