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Jacob, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory 12 units at $90 March 10 Sold 9 units June 10 Purchased 36 units at $87 October 30 Sold 31 units What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2025 balance sheet, using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)

Jacob, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory 12 units at $90 March 10 Sold 9 units June 10 Purchased 36 units at $87 October 30 Sold 31 units What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2025 balance sheet, using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)

FINANCIAL ACCOUNTING
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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Jacob, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory 12 units at $90 March 10 Sold 9 units June 10 Purchased 36 units at $87 October 30 Sold 31 units What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2025 balance sheet, using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)
Transcribed Image Text:Jacob, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory 12 units at $90 March 10 Sold 9 units June 10 Purchased 36 units at $87 October 30 Sold 31 units What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2025 balance sheet, using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)
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