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A company uses the periodic inventory system and had the following activity during the current...

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Accounting

A company uses the periodic inventory system and had the following activity during the current monthly period.

November 1: Beginning inventory 101 Units @ $25
November 5: Purchased 101 Units @ $26
November 8: Purchased 51 Units @ $25
November 16: Sold 130 Units @ $50
November 19: Purchased 20 Units @ $20

Using the weighted-average inventory method, the company's ending inventory would be:

Multiple Choice

  • $1,675

  • $2,525

  • $2,925

  • $4,200

  • $3,576

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