ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: Beginning inventory 1,100 units @ $22.10 cost per unit Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 1 June 6 June 11 June 15 June 19 June 23 Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units June 26 June 28 Purchased 2,500 units @ $28.20 cost per unit Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.
ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: Beginning inventory 1,100 units @ $22.10 cost per unit Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 1 June 6 June 11 June 15 June 19 June 23 Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units June 26 June 28 Purchased 2,500 units @ $28.20 cost per unit Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.
Chapter1: Financial Statements And Business Decisions
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ZZ Company employs a periodic inventory system and sells its
inventory to customers for $39 per unit. ZZ Company had the
following inventory information available for June:
June 1 Beginning inventory 1,100 units @ $22.10 cost per unit
June 6 Purchased 3,400 units @ $16.40 cost per unit
Sold 3,000 units
June 11
June 15
June 19
June 23
June 26
June 28
Purchased 1,300 units @ $33.60 cost per unit
Sold 1,200 units
Purchase 3,700 units @ $20.70 cost per unit
Sold 3,600 units
Purchased 2,500 units @ $28.20 cost per unit
During June, ZZ Company reported operating expenses of $18,000
and had an income tax rate of 36%.
Calculate the dollar amount of ending inventory shown on ZZ
Company's June 30 balance sheet using the weighted average
method.
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