The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.79 $90068 Purchases: January 6 6400 10.23 65472 January 26 8000 10.71 85680 Sales January 7 (7400 ) January 31 (11100 ) Balance at January 31 5100 Assuming that Sunland does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?

The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.79 $90068 Purchases: January 6 6400 10.23 65472 January 26 8000 10.71 85680 Sales January 7 (7400 ) January 31 (11100 ) Balance at January 31 5100 Assuming that Sunland does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?

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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