The following information was available from the inventory records of Vaughn Manufacturing for January: Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units $46692. $46258. $47360. $46154. 8800 6200 8000 (7600) (10900 ) 4500 Unit Cost $9.80 10.32 10.71 Total Cost $86240 63984 85680 Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)

The following information was available from the inventory records of Vaughn Manufacturing for January: Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units $46692. $46258. $47360. $46154. 8800 6200 8000 (7600) (10900 ) 4500 Unit Cost $9.80 10.32 10.71 Total Cost $86240 63984 85680 Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)

Name: devrat The following information was available from the inventory reco
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Description: devrat The following information was available from the inventory records of Vaughn Manufacturing for January:Balance at January 1Purchases:January 6January 26SalesJanuary 7January 31Balance at January 31Units8800$46692.$46258.$47360.$46154.62008000(

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 10EA: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...

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Concept explainers

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.

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Question

devrat

The following information was available from the inventory records of Vaughn Manufacturing for January:
Balance at January 1
Purchases:
January 6
January 26
Sales
January 7
January 31
Balance at January 31
Units
8800
$46692.
$46258.
$47360.
$46154.
6200
8000
(7600)
(10900 )
4500
Unit Cost
$9.80
10.32
10.71
Total Cost
$86240
63984
85680
Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average
inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)

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