A company just starting business made the following four inventory purchases in June: June...
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Accounting
A company just starting business made the following four inventory purchases in June:
June 1st, 100 units $350.
June 10th, 200 units $450.
June 15th, 200 units $480.
June 28th, 100 units $400.
Equaling $1680.
A physical count of merchandise inventory on June 30th reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30th is...
A) $560.
B) $575.
C) $640.
D) $1230
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