The beginning inventory for Collins Company consists of 600 units valued at $20 each. Three...
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Accounting
The beginning inventory for Collins Company consists of 600 units valued at $20 each. Three purchases of 200 units each were made during the year at $21, $22, and $24 per unit, respectively. A physical count reveals 500 units on hand at December 31, which is the end of the accounting period. What is the value of the ending inventory under a weighted average system?
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| A. | $11,300 | |
| B. | $10,583 | |
| C. | $11,000 | |
| D. | $10,000 |
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