Given the Following Data, Calculate the Cost of Ending Inventory

question 25

Multiple Choice

Given the following data, calculate the cost of ending inventory using the weighted-average method for a periodic inventory system, rounding to the nearest dollar. (Do not round in the process of your calculations, only round your final answer.)

• A) $720
• B) $619
• C) $581
• D) $450

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Definitions:

Variance

The average of the squared differences from the Mean, a statistical measurement of the spread between numbers in a data set.

Computational Formula

A formula used to compute statistical measures that often simplifies the arithmetic process.

Variance

A measure of the dispersion or how spread out numbers are in a dataset.

Interquartile Range

A measure of statistical dispersion, representing the difference between the 25th and 75th percentiles of a dataset.