Langer Company Has the Following Inventory Information Assuming That a Perpetual Inventory System Is Used, What Is

question 127

Multiple Choice

Langer Company has the following inventory information. $$\begin{array} { r l l } \text { July } 1 & \text { Beginning Inventory } & 10 \text { units at } \$ 90 \\5 & \text { Purchases } & 60 \text { units at } \$ 92 \\14 & \text { Sale } & 40 \text { units } \\21 & \text { Purchases } & 30 \text { units at } \$ 95 \\30 & \text { Sale } & 28 \text { units }\end{array}$$ Assuming that a perpetual inventory system is used, what is the ending inventory (round all calculations to nearest dollar) under the moving-average cost method?

• A) $2,930
• B) $2,966
• C) $2,986
• D) $3,054

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Definitions:

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