Your firm values inventory using the weighted average cost method. At 1 October 20x8, there...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Your firm values inventory using the weighted average cost method. At 1 October 20x8, there were 60 units in imventory valued at $12 each, On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October, On 21 October, 75 units were sold for $1.200. What was the value of closing inventory on 31 October 20B ? "On 31 October 20B, the value of closing inventory using weighted average method was
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.