A Company Had 260 Units of Inventory at a Cost

question 93

Multiple Choice

A company had 260 units of inventory at a cost of $152 each on January 1. On June 5, the company purchased 460 units for $172 each. On November 10, the company purchased 160 units for $212 each. On December 15, the company sold 520 units. Given this information, use the weighted average periodic inventory method to find the ending inventory balance. (Do not round your intermediate calculations; round the final answer to nearest dollar amount.)

• A)$64,320
• B)$69,920
• C)$90,149
• D)$92,149
• E)$62,411

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Definitions:

Year 3

Third year in a series, sequence, or timeline, often used in financial and analytical contexts to denote the third year of operations, performance, or analysis.

Comparative Balance Sheets

Financial statements that show a company's financial position at different points in time, facilitating analysis of trends and changes.

Year 1

Year 1 often refers to the first fiscal or calendar year of operation for a business or the initial year in a time series analysis.

Comparative Balance Sheets

Comparative balance sheets display the financial position of a business at different points in time, facilitating the analysis of trends over time.