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Harding Systems,Inc.uses a periodic inventory system.The purchases of a particular product during the year are shown below:
At December 31 the ending inventory consisted of 1,500 units.
-Compute the cost of the ending inventory based on the average-cost method of inventory valuation.(Round your final answer to the nearest dollar value. )
Equivalent Unit
A measure used in cost accounting to express the amount of work done on partially completed goods in terms of fully completed units.
Materials
Raw inputs or supplies used in the manufacturing process to produce goods or services.
First Processing Department
The initial stage in a manufacturing process where raw materials are first transformed into work-in-process items.
Fermenting Department
A specialized section within a manufacturing process where biological fermentation of products occurs, such as in beer or pharmaceutical production.
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