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Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Glasgow sold 230 units after purchase 3 for $8.10 each.
What is Glasgow's ending inventory under weighted-average? (Round your intermediate computation to 2 decimal places.)
Profitable Use
The utilization of resources or assets in a way that generates a financial gain.
Fixed Manufacturing Overhead
Costs in manufacturing that do not vary with the level of production, such as salaries of supervisors and rent of the factory.
Contribution Margin
The amount remaining from sales revenue after variable costs have been deducted; it contributes towards covering fixed costs and generating profit.
Direct Labor
The wages paid to workers who physically produce products or are directly involved in providing services.
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