Southern Industries had 417 dining sets in stock at the end of the year. Inventory...
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Accounting
Southern Industries had 417 dining sets in stock at the end of the year. Inventory records show the following information:
| Date | Qty | Cost | Total Cost | |
|---|---|---|---|---|
| January 1 | Beginning Inventory | 50 | $1,290 | $64,500 |
| April 13 | Purchase | 200 | 1,266 | 253,200 |
| May 2 | Purchase | 200 | 1,218 | 243,600 |
| September 7 | Purchase | 250 | 1,242 | 310,500 |
| November 18 | Purchase | 400 | 1,266 | 506,400 |
| Total available for sale | 1,100 | $1,378,200 | ||
Using the average cost method of inventory pricing, calculate the dollar value of the ending inventory. (Round your answer to the nearest cent.)
$
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