In its first month of operations, Blossom Company made three purchases of merchandise in the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: (1) 700 units at $2, (2) 800 units at $4, and (3) 1,000 units at $5. Assuming there are 600 units on hand at the end of the period. Blossom uses a periodic inventory system. Compute the cost of the ending inventory under the average-cost method. (Round the cost per unit to 3 decimal places, e.g. 8.875 and the final answer to 0 decimal places, e.g. 5,275.)
| Cost of the ending inventory |
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.