Given the following:
Number purchased Cost per unit Total
January 1 inventory40 \$ 4 \$ 160
April 160 7 420
June 150 8 400
November 155 9 495
205 \$ 1,475
Required:
ACalculate the cost of ending inventory using the weighted-average method. (Note: Round the "average unit cost" and final answer to the nearest cent.)
| Number purchased | Cost per unit | Total | |
January 1 inventory | 40 | \$ 4 | \$ 160 |
April 1 | 60 | 7 | 420 |
June 1 | 50 | 8 | 400 |
November 1 | 55 | 9 | 495 |
| 205 | \$ 1,475 | ||
ACalculate the cost of ending inventory using the weighted-average method. (Note: Round the "average unit cost" and final answer to the nearest cent.)