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shusha [124]
3 years ago
9

Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1

Beginning Inventory 200 $ 140 6/5 Purchase 400 $ 160 11/10 Purchase 100 $ 200 During the year, Maxim sold 400 units. What is ending inventory using the average cost method
Business
1 answer:
artcher [175]3 years ago
8 0

Answer:

$48,000

Explanation:

The computation of ending inventory using average method is shown below

Total units = 200 + 400 + 100 = 700

Total cost = (200 × $140) + (400 × $160) + (100 × $200)

= $28,000 + $64,000 + $20,000

= $112,000

Average cost per unit = $112,000/700 = $160

Ending inventory = Total units - units sold

= 700 - 400

= 300

Therefore, cost of ending inventory = Ending inventory × Average cost per unit

= 300 units × $160

= $48,000

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2 years ago
Etmer enterprises has budgeted sales for the next four months as follows: budgeted sales in units january 7,400 units february 4
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3 years ago
Who is your favorite character in the walking dead? mine is rick
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