A company just starting its business made the following four inventory purchases in June: Date Jun 1 Jun 10 Jun 15 Jun 28 Number of Units Total Cost 250 $1373.50. Ⓒ$1404.10. $2333.00. $3048.50. 310 310 250 $800 1023 1054 875 On June 25, the company made its first sale when a local customer purchased 710 units for $3,500. The company uses a perpetuall inventory system. Using the average cost formula, the cost of the ending inventory on June 30 is.

A company just starting its business made the following four inventory purchases in June: Date Jun 1 Jun 10 Jun 15 Jun 28 Number of Units Total Cost 250 $1373.50. Ⓒ$1404.10. $2333.00. $3048.50. 310 310 250 $800 1023 1054 875 On June 25, the company made its first sale when a local customer purchased 710 units for $3,500. The company uses a perpetuall inventory system. Using the average cost formula, the cost of the ending inventory on June 30 is.

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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