The following inventory transactions took place for Blossom Corporation for the month of May: Cost/ Selling Price Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 Event beginning inventory purchase purchase sale sale purchase purchase sale Quantity 2,500 4,500 3,000 5,000 3,000 3,000 3,000 5,000 $3.10 3.30 3.40 6.10 6.10 3.60 3.60 6.10 Calculate the ending inventory balance for Blossom Corporation, assuming the company uses a perpetual system and the moving-average cost formula. (Round unit costs to 2 decimal places, e.g. 52.75 and final a decimal places, e.g. 5,275.) Ending inventory $

The following inventory transactions took place for Blossom Corporation for the month of May: Cost/ Selling Price Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 Event beginning inventory purchase purchase sale sale purchase purchase sale Quantity 2,500 4,500 3,000 5,000 3,000 3,000 3,000 5,000 $3.10 3.30 3.40 6.10 6.10 3.60 3.60 6.10 Calculate the ending inventory balance for Blossom Corporation, assuming the company uses a perpetual system and the moving-average cost formula. (Round unit costs to 2 decimal places, e.g. 52.75 and final a decimal places, e.g. 5,275.) Ending inventory $

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Description: Please do not give solution in image format thanku The following inventory transactions took place for Blossom Corporation for the month of May:Cost/SellingPriceDateMay 1May 5May 10May 15May 20May 22May 24May 25Eventbeginning inventorypurchasepurchas

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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