Question 6 of 38 The following information was available from the inventory records of Sheridan Company for January Total Cost $30943 Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units Ⓒ$10755 $10743 O $10809 Ⓒ$10500 2900 2000 2600 (2400) (4100) 1000 Unit Cost $10.67 * 10.50 1101 21000 28626 Assuming that Sheridan uses the perpetual inventory system, what should the inventory be at January 31, using the moving average inventory method, rounded to the nearest dollar? (Round intermediate calculations to 3 decimal places, eg 2.4563
Question 6 of 38 The following information was available from the inventory records of Sheridan Company for January Total Cost $30943 Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units Ⓒ$10755 $10743 O $10809 Ⓒ$10500 2900 2000 2600 (2400) (4100) 1000 Unit Cost $10.67 * 10.50 1101 21000 28626 Assuming that Sheridan uses the perpetual inventory system, what should the inventory be at January 31, using the moving average inventory method, rounded to the nearest dollar? (Round intermediate calculations to 3 decimal places, eg 2.4563
Chapter1: Financial Statements And Business Decisions
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Question 6 of 38
The following information was available from the inventory records of Sheridan Company for January
Units Unit Cost
2900
$10.67
Balance at January 1
Purchases:
January 6
January 26
Sales
January 7
January 31
Balance at January 31
< >
Ⓒ$10755
Ⓒ$10743
O $10809
Ⓒ$10500
2000
2600
(2400)
(4100)
1000
+
10.50
11.01
Total Cost
$30943
21000
28626
Assuming that Sheridan uses the perpetual inventory system, what should the inventory be at January 31, using the moving average
inventory method, rounded to the nearest dollar? (Round intermediate calculations to 3 decimal places, eg. 2.456)
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