Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc. ltd. uses a perpetual inventory system and th

ABC. Ltd. uses a perpetual inventory system and the weighted average cost method. The following...

70.2K

Verified Solution

Question

Accounting

image

ABC. Ltd. uses a perpetual inventory system and the weighted average cost method. The following represents complete information on inventory transactions for ABC. Ltd. for the year: January 1: Opening inventory 8000 units at $ 5 per unit June 1: Purchased 6000 units at $ 10 per unit August 1: Sold 8000 units at $ 20 per unit October 1: Purchased 3000 units at $ 6 per unit Calculate ending inventory. Round your answer to the nearest dollar. Your Answer: 60000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students