(Answered) A company purchased 100 units for 30 each on january 31 it

Accounting

A company purchased 100 units for $30 each on January 31. It purchased 150 units for $25 on February 28. It sold a total of 150 units for $50 each from March 1 through December 31. If the company uses the weighted minus average inventory costing method, calculate the amount of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.)

A. $2,700
B. $6,750
C. $4,350
D. $2,900

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92570354
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - on march 1 2017 boyd company acquired real

Question - On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; th ...

Question - the samuel company uses the straight-line method

Question - The Samuel Company uses the straight-line method to depreciate its equipment. On May 1, 2014, the company purchased some equipment for $224,000. The equipment is estimated to have a useful life of ten years an ...

Question - canberry corporation had net income of 116000

Question - Canberry Corporation had net income of $116,000, beginning total assets of $856,000 and ending total assets of $760,000. Calculate its return on total assets? 738% 15.3% 655% 14.4% 13.6%

Question - alpha corp had 15000 of dividends in arrears for

Question - Alpha Corp. had $15,000 of dividends in arrears, for cumulative, non-participating preferred stock as of January 1, 2018.This value of dividends in arrears was for the fiscal years of 2016 & 2017. During the f ...

Question - why is net income before tax the most common

Question - Why is net income before tax the most common base used to determine the preliminary judgment about materiality? In what circumstances might the auditor use a different base?

Question - a married couple received 7200 of social

Question - A married couple received $7,200 of social security benefits. a - Calculate the taxable amount of those benefits if the couple's provisional income is $33,000. b - Calculate the taxable amount of those benefit ...

Question as a financial consultant you have contracted with

Question: As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed report ill ...

Question - mary also provided you with third quarter

Question - Mary also provided you with third quarter monthly expense data to assist in constructing your budget. The next table presents that information: Monthly Expense Item Amount Administration $2,500 General 6% of s ...

Question - on december 31 2016 green company finished

Question - On December 31, 2016, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $770,000, a due date of December 31, 2019, and a stated rate of 5%, with inter ...

Question you plan to be open 50 hours per week for 20 weeks

Question: You plan to be open 50 hours per week for 20 weeks in the year. You therefore anticipate operating costs of $100,000 per year. You would be able to borrow $1,700,000 you need to get started under a 20-year loan ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert