A Company's Inventory Records Indicate the Following Data for the Month

question 92

Essay

A company's inventory records indicate the following data for the month of July:
$$\begin{array} { | l | l | l | } \hline \text { July 1 } & \text { Beginning } & 380 \text { units at } \$ 15 \text { each } \\\hline \text { July 5 } & \text { Purchased } & 270 \text { units at } \$ 17 \text { each } \\\hline \text { July 10 } & \text { Sold } & 400 \text { units at } \$ 50 \text { each } \\\hline \text { July 20 } & \text { Purchased } & 300 \text { units at } \$ 22 \text { each } \\\hline \text { July 25 } & \text { Sold } & 400 \text { units at } \$ 50 \text { each } \\\hline\end{array}$$
If the company uses the weighted average inventory valuation method and the perpetual inventory system,what would be the cost of its ending inventory? (Round average cost per unit to 2 decimals,and final answer to the nearest dollar.)

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Definitions:

Demand Curves

A graphical representation showcasing the relationship between the price of a good or service and the quantity demanded by consumers at various price levels.

Over-Differentiated Products

Products that have too many variations or features, potentially confusing customers and reducing sales.

Differentiated Goods

Products that are distinguished from others on the basis of quality, brand, design, or some other characteristic, making them unique from competitors’ offerings.

Product Standardization

The process of adopting uniform characteristics for a product or its components, often to ensure consistency and compatibility.