Home and Hearth, Which Uses the Average Cost Method of Valuing

question 3

Short Answer

Home and Hearth, which uses the average cost method of valuing inventory, has 35 fire screens remaining in inventory. Home and Hearth purchased fire screens over a 12-month period as follows: 36 purchased at $140 on January 4, 18 purchased at $145 on April 2, 18 purchased at $150 on July 30, and 36 purchased at $148 on September 1. Compute the value of the ending inventory of fire screens at average cost.​

---

Definitions:

Aligning Actions

Actions people use to define their apparently questionable conduct as actually in line with cultural norms, thereby repairing social identities, restoring meaning to situations, and reestablishing smooth interaction.

Differentiate

To recognize or ascertain what makes something or someone distinct or different from others.

Example

An illustration or instance that is representative of a group or set.

Identity

The categories people use to specify who they are—that is, to locate themselves relative to other people.