Share,Inc
the Following Data Is Available for One of the Products

question 85

Essay

Share,Inc.
The following data is available for one of the products sold by Share,Inc. ,which uses a perpetual inventory system.
May 1 $\quad$ On hand, 10 units $@ \$ 2$ each
8 $\quad$ Sold 6 units@$10 each
14 $\quad$ Purchased 30 units $@ \$ 3$ each
23 $\quad$ Sold 24 units $@ \$ 10$ each

-Refer to the data for Share,Inc.
?
If the moving average method is used,how much is ending inventory on May 30?

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Definitions:

After-Tax Profit

The amount of net income left over after all taxes have been deducted from total revenue.

Sold Units

The total quantity of units of a product that have been sold during a specific period.

Income Tax Rate

The income tax rate is the percentage at which an individual or corporation's income is taxed by the government, varying based on income level or earnings.

Contribution Margin Ratio

The ratio of contribution margin (sales minus variable costs) to sales revenue, indicating the percentage of each sales dollar remaining after variable costs.