Marigold Company has the following inventory information. July 1 Beginning Inventory 30 units at $80 Purchases 70 units at $90 14 Sale 45 units 21 Purchases 40 units at $50 30 Sale 30 units Assuming that a perpetual inventory system is used, what is the ending inventory tround all unit costs to three decimal places and all cost of goods sold and balance calculations to nearest dollar) under the moving-average cost method? O $4642 O $4628 O $4647 O $4622

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Marigold Company has the following inventory information.
July 1
Beginning Inventory 30 units at $80
Purchases
70 units at $90
14
Sale
45 units
21
Purchases
40 units at $50
30
Sale
30 units
Assuming that a perpetual inventory system is used, what is the ending inventory (round all unit costs to three decimal places and all
cost of goods sold and balance calculations to nearest dollar) under the moving-average cost method?
O $4642
O $4628
O $4647
O $4622
Transcribed Image Text:Marigold Company has the following inventory information. July 1 Beginning Inventory 30 units at $80 Purchases 70 units at $90 14 Sale 45 units 21 Purchases 40 units at $50 30 Sale 30 units Assuming that a perpetual inventory system is used, what is the ending inventory (round all unit costs to three decimal places and all cost of goods sold and balance calculations to nearest dollar) under the moving-average cost method? O $4642 O $4628 O $4647 O $4622
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