Diligent Ltd Had Five Units of the Commodity Algo on Hand

question 3

Multiple Choice

Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: What was the value of ending inventory of Algo, using the moving weighted average assumption and a perpetual inventory system?

• A) $1 460
• B) $1 480
• C) $1 540
• D) $1 590

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Definitions:

Perishable Products

Goods that deteriorate over a short period or have a limited shelf life, requiring timely sale and use.