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25 June, 06:07

Assume Hadley Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit First Purchase 310 3 Second Purchase 220 4.9 Assuming Hadley sells 290 units at $11 each, what is the value of her ending inventory if she uses weighted average

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  1. 25 June, 06:16
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    Ending inventory cost = $948

    Explanation:

    Giving the following information:

    First Purchase = 310 units for $3 each

    Second Purchase = 220 units for $4.9 each

    Units sold = 290

    First, we need to calculate the weighted average cost:

    Weighted average cost = (3 + 4.9) / 2 = $3.95

    Ending inventory (units) = 240 units

    Now, ending inventory cost:

    Ending inventory cost = 240*3.95 = $948
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