Remote Company had the following information pertaining to inventory:     Units Unit Price Total Cost January 1 Beginning inventory 300 $2.40 $720 April 10 1st purchase 200 2.45 490 July 15 2nd purchase 200 2.50 500 December 1 3rd purchase 100 2.90       290     800   $2,000 At the end of the period, the company took a physical inventory and determined that there are 190 units on hand. What amount should be assigned to the ending inventory under the weighted-average periodic inventory method?

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Q: Using the weighted average method, complete the steps below to calculate the ending inventory units,…

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A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

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A: First-in-First-Out (FIFO): In First-in-First-Out method, the costs of the initially purchased items…

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Q: Hansaben

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A: Solution :   Units Unit Cost Total Cost Inventory, December 31, prior year 1940 $…

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A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

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A: Ending units = Total units available for sale - Total units sold = 80 - 42 = 38 units

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Q: Hamilton Company uses a periodic Inventory system. At the end of the annual accounting period,…

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.