A company just began business and made the following four inventory purchases in June: $ 990 1,344 1,368 1,062 $4.764 June 150 units June 10 200 units 200 units 150 units June 15 June 28 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the value assigned to the ending inventory on June 30 (rounded to whole dollars) is O a. $1,361. O b. $1,320. O c. $1,416. d. $1,344.

A company just began business and made the following four inventory purchases in June: $ 990 1,344 1,368 1,062 $4.764 June 150 units June 10 200 units 200 units 150 units June 15 June 28 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the value assigned to the ending inventory on June 30 (rounded to whole dollars) is O a. $1,361. O b. $1,320. O c. $1,416. d. $1,344.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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