Orange-Aide Company Has the Following Inventory Data A Physical Count of Merchandise Inventory on July 31 Reveals

question 82

Multiple Choice

Orange-Aide Company has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 40 \text { units at } \$ 20 & \$ 800 \\7 & \text { Purchases } & 140 \text { units at } \$ 21 & 2,940 \\22 & \text { Purchases } & 20 \text { units at } \$ 22 & 440\\&&&\$4,180\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 50 units on hand.Using the average cost method the value of ending inventory is

• A)$1070
• B)$1045 c $1050
• D $1100

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Informative

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Sales

The exchange of a commodity for money; the action of selling something.

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