History Bookmarks Window Help a blackboard.cmich edu k 3 (50pts)-ENT 210 Acc ng

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History Bookmarks Window Help a blackboard.cmich edu k 3 (50pts)-ENT 210 Acc ng Quizzes: CH S&6 Flashcards | Quizlet 1 hour, 11 minutes, 12 seconds. y Question Completion Status: QUESTION 14 A company just starting business made the following four inventory purchases in June: June June June June 10 15 28 150 units@ $3.47 200 units@ $3.90 200 units@ $4.20 1.50 units @ S4.40 700 S 520 780. 840. 660, $2,800. A physical count on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is $2.800. $2,000. $767 $800 Chiek Save and Submit to save and subnit Chek Save All Ansers to saee all ansieers 20 0O0 F F7

Explanation / Answer

Units Per unit cost Amount Beginning inventory 150 3.47 520.5 10 june purchase 200 3.9 780.0 15 june purchase 200 4.2 840.0 28 june purchase 150 4.4 660.0 Total cost of goods available for sale 700 2800.5 Average cost per unit 4.00 (2800.5/700) Ending inventory 200 Average cost per unit 4.00 Total inventory cost 800 So correct answer is D

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