The Following Data Are Available for the Month of April $\text {April 1 inventory}$

question 88

Essay

The following data are available for the month of April for Gore Company: $\text {April 1 inventory}$ $\quad 120$ $\text {units at \(\$ 8.15\) each}$
$\text {April 10 purchase}$ $\quad 200$ $\text {units at \(\$ 8.20\) each}$
$\text {April 20 purchase}$$\quad 410$ $\text {units at \(\$ 8.40\) each}$
$\text {April 25 purchase}$ $\quad 310$ $\text {units at \(\$ 8.50\) each}$ Gore sold 630 units during April.
Compute the value of ending inventory under the weighted-average method. Assume a periodic inventory system.(round per unit cost to the nearest cent, round final answer to the nearest dollar)

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Definitions:

Degrees of Freedom

The number of values in a final calculation of a statistic that are free to vary.

Regression Model

A statistical technique used to predict the value of a dependent variable based on the values of one or more independent variables.

Television

An electronic device for receiving and displaying images and sounds transmitted over distances.

Coefficient of Determination

The coefficient of determination, often denoted as R^2, measures the proportion of the variance in the dependent variable that is predictable from the independent variable(s).