answer this question Question 34 (of 48) 34. 313 pomts 34 3.13 points A company

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Question 34 (of 48) 34. 313 pomts 34 3.13 points A company uses the periodic inventory system and had the following activity during the current monthly period November 1: Beginning inventory of November 5: Purchased November 8: Purchased November 16: Solod November 19: Purchased 113 Units @ $10 113 Units a $26 63 Units a $25 178 Units $110 80 Units $20 Using the weighted-average inventory method, the company's ending inventory would $2.730 O $3,175 O $3,749 O $1.130 O $4.305 O Type here to search

Explanation / Answer

Cost of Goods available for sale = Cost of Beginning Inventory + Cost of goods purchased
Cost of Goods available for sale = 113 * $10 + 113 * $26 + 63 * $25 + 80 * $20
Cost of Goods available for sale = $7,243

Number of units available for sale = Beginning Inventory + Purchases
Number of units available for sale = 113 + 113 + 63 + 80
Number of units available for sale = 369

Cost per unit = Cost of Goods available for sale / Number of units available for sale
Cost per unit = $7,243 / 369
Cost per unit = $19.629

Number of units sold = 178

Number of units in ending inventory = Number of units available for sale - Number of units sold
Number of units in ending inventory = 369 - 178
Number of units in ending inventory = 191

Cost of Ending Inventory = 191 * $19.629
Cost of Ending Inventory = $3,749

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