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Trio Ltd Uses a Periodic Inventories System and Rounds the Average

question 15

Multiple Choice

Trio Ltd uses a periodic inventories system and rounds the average unit cost to the nearest dollar. The following data relates to Trio Ltd for the year ended 30 June 2021.  Opening inventories  150units@average cost of $32 each  January purchases 35 units @ $35 each  March purchases 18 units @ $38 each  June purchases 50 units @ $30 each  September purchases 27 units @ $32 each  Ending inventories 65 units \begin{array}{ll}\text { Opening inventories }&\text { 150units@average cost of \$32 each }\\\text { January purchases } & 35 \text { units @ \$35 each } \\\text { March purchases } & 18 \text { units @ } \$ 38 \text { each }\\\text { June purchases } & 50 \text { units @ \$30 each } \\\text { September purchases } & 27 \text { units @ \$32 each } \\\text { Ending inventories } & 65 \text { units }\end{array} The cost of ending inventories using the weighted average cost method (rounded to the nearest dollar) is:

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