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anastassius [24]
2 years ago
7

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases

(listed in chronological order of acquisition):· 40 units at $100· 70 units at $80· 170 units at $60Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. Ending inventory using the average cost method (rounded) is:Select one:a. $650b. $707c. $1,000d. $600
Business
1 answer:
Firlakuza [10]2 years ago
7 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Purchases:

40 units at $100·

70 units at $80·

170 units at $60

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.

First, we need to calculate the average purchase cost.

Average cost= (100*40 + 80*70 + 60*170)/280= $70.7

Now, we can calculate the value of ending inventory:

Inventory= $70.7*10= $707

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3 years ago
according to the text, superior performance within the strategic business unit (sbu) is sought by asking which major question?
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3 0
8 months ago
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ss7ja [257]

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. All countries can gain from trade if they all specialize in production according to comparative advantage

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