Chapter 16.I, Problem 3TIE

To determine

To calculate: The value of the 380 video games in ending inventory with the help of Average Cost Method for a Best Buy:

$\begin{array}{cccc}& \text{Best Buy}& & \\ \text{January 1}& \text{Beginning Inventory}& \text{200 units @ \$8}\text{.00}& \$1,600\\ \text{May 14}& \text{Purchase}& \text{100 units @ \$8}\text{.50}& 850\\ \text{August 27}& \text{Purchase}& \text{250 units @ \$9}\text{.00}& 2,250\\ \text{November 18}& \text{Purchase}& \text{300 units @ \$8}\text{.75}& 2,625\\ \text{Video games available for sale}& & \underset{\_}{\underset{\_}{\overline{850}}}& \underset{\_}{\underset{\_}{\overline{\$7,325}}}\end{array}$