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4 years ago

Ayayai Corp. has the following inventory data:

Business

1 answer:

Brums [2.3K]4 years ago

6 0

Answer:

Using the average cost method, the value of ending inventory is $2,200

Explanation:

Ayayai Corp. uses average cost method. The company counts merchandise inventory on July 30 (the company uses periodic inventory system).

Average cost = Total Cost of Inventory /Total Units in Inventory

1. Beginning inventory: 66 units at $19, total cost $1,254

2. 7 July, Purchases: 231 units at $20, total cost $4,620

3. 22 July, Purchases purchase: 33 units at $22, total cost $726

Total purchase in the period: 264 units, total cost $5,346

Average cost = ($1,254 + $5,346 )/(66 + 264) = $6,600/330 = $20 per unit

On July 30, there are 110 units on hand

The value of ending inventory = 110 x $20 = $2,200

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Memo to the College President

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1. Topic Sentence:

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2. Sentence(s) for separate paragraph:

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Explanation:

1. Topic Sentence:

This is the theme or main topic of a paragraph that summarizes the information in the paragraph. It may be the first sentence or inserted elsewhere in the paragraph. But, all other sentences within the paragraph support it with points, reasons, or examples.

2. Support Sentences:

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