Calculate the cost of ending inventory

Reference no: EM13145695

In its first month of operations, Cerretti Company made three purchases of merchandise in the following sequence: (1) 300 units at $45.67, (2) 400 units at $59.37, and (3) 500 units at $68.51. Compute the cost of the ending inventory under the average-cost method, assuming there are 300 units on hand. (Round average cost to 2 decimal places, e.g. 3.25. Use this rounded amount to calculate cost of ending inventory.)

Reference no: EM13145695

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