Question

In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 700 units at $6, (2) 800 units at $8, and (3) 1,000 units at $9. Assuming there are 600 units on hand at the end of the period. Crane uses a periodic inventory system.

Compute the cost of the ending inventory under the average-cost method. (Round the cost per unit to 3 decimal places, e.g. 8.875 and the final answer to 0 decimal places, e.g. 5,275.)

Cost of the ending inventory $enter the cost of the ending inventory in dollars

Answer 1

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