Ending inventory balance in dollars

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Reference no: EM13980926

1) In 2015, the Whaddock Company purchased 1,560,000 units from its supplier at a cost of $250.00 per unit. Whaddock sold 1,525,000 units of its product in 2015 at a price of $330.00 per unit. Whaddock began 2015 with 425,000 units in inventory (inventory is carried at a cost of $250.00 per unit). Using this information, compute Whaddock’s gross profit for 2015.

2) Referring back to the previous question, compute Whaddock’s 2015 ending inventory balance in dollars (valued at cost per unit of $250.00).

Reference no: EM13980926

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