Assignment 1- pg 4

- - 1. Using the data below, determine the ending inventory amount assuming the weighted average method with a periodic inventory system. « Beginning inventory, 10 units e Purchases, 20 units « Total cost of units available for sale, $3,000 « Ending inventory, 12 units a. $3,000 b. $100 c. $1,200 d. None of these choices are correct. c v~ 2. Using the data below, calculate the cost of merchandise sold. « Beginning inventory, $1,000 « Inventory purchased, $3,000 « Net Income, $40,000 « Ending inventory, $2,000 « Sales, $185,000 a. $2,000 b. $4,000 c. $185,000 d. $145,000 a v v