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Calculate the value of ending inventory

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Reference no: EM132027739

Question - Pharoah Company has the following inventory data:

July 1 Beginning inventory 50 units at $25 $1250

7 Purchases 174 units at $26 4524

22 Purchases 25 units at $27 675

$6449

A physical count of merchandise inventory on July 30 reveals that there are 62 units on hand. Using the average cost method, the value of ending inventory is

$1612.

$1606.

$1637.

$1674.

Reference no: EM132027739

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