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New Express had 400 fax machines in stock at the end of the year. Inventory...

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Finance

New Express had 400 fax machines in stock at the end of the year. Inventory records for the year are as follows. Using the average cost method of inventory pricing, calculate the dollar value of the ending inventory.

Date Quanitity Cost Total
Jan 1 Beginning Inventory 50 $142 $7,100
Aug 5 Purchase 100 269 26,900
OCt 19 Purchase 100 233 23,300
Nov 23 Purchase 300 189 56,700
Dec 16 Purchase 200 $157 31,400
Total available for sale 750 $145,400

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