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Find cost of ending inventory under average cost method

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Reference no: EM132741251

Problem 1: Ahmed started a business on 1st January 2012 selling printers. He bought 30 printers at a cost of $45 each at the beginning of his accounting year. On May 1st 2012 he bought a further 30 printers, at a cost of $75. At the accounting year end on 31st December 2012, Ahmed had 15 printers in inventory. He sold the others during the year for $70 each. The cost of ending inventory under average cost method will be:

Select one:

a. $675

b. $1,050

c. $1,125

d. $900

Reference no: EM132741251

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