The following information was available from the inventory records of Waterway Industries for January: ...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The following information was available from the inventory records of Waterway Industries for January:
| Units | Unit Cost | Total Cost | ||||||||||
| Balance at January 1 | 8800 | $9.80 | $86240 | |||||||||
| Purchases: | ||||||||||||
| January 6 | 5800 | 10.22 | 59276 | |||||||||
| January 26 | 8000 | 10.76 | 86080 | |||||||||
| Sales | ||||||||||||
| January 7 | (7700 | ) | ||||||||||
| January 31 | (11000 | ) | ||||||||||
| Balance at January 31 | 3900 | |||||||||||
Assuming that Waterway maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)
$39965.
$40533.
$40054.
$40655.
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.