A Company Made the Following Merchandise Purchases and Sales During

question 181

Essay

A company made the following merchandise purchases and sales during the current month:
$\begin{array}{|l|l|l|l|}\hline \text { July 1 purchased } & 380 & \text { units at } & \$ 15 \text { each } \\\hline \text { July 5 purchased } & 270 & \text { units at } & \$ 20 \text { each } \\\hline \text { July 9 sold } & 500 & \text { units at } & \$ 55 \text { each } \\\hline \text { July 14 purchased } & 300 & \text { units at } & \$ 24 \text { each } \\\hline \text { July 20 sold } & 250 & \text { units at } & \$ 55 \text { each } \\\hline \text { July 30 purchased } & 250 & \text { units at } & \$ 30 \text { each }\\\hline\end{array}$
There was no beginning inventory.If the company uses the last-in,first-out perpetual inventory system,what would be the cost of the ending inventory?

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Definitions:

Socially Responsible Products

Goods that are produced in ways that do not harm society, the environment, or the economy and often benefit them in the long term.

Behavior Boundaries

Guidelines, limits, or rules that an individual establishes to identify reasonable, safe, and permissible ways for other people to behave towards them and how they will respond when those limits are crossed.

Personal Philosophy

An individual's set of beliefs, values, and principles that guide their understanding of the world and decision-making process.