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Find the value of ending inventory

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Question - The following units of an inventory item were available for sale during the year:

Beginning inventory 7 units at $52

First purchase 15 units at $53

Second purchase 28 units at $54

Third purchase 16 units at $56

The firm uses the periodic inventory system. During the year, 25 units of the item were sold.

Required - Find the value of ending inventory rounded to the nearest dollar using average cost?

a. $1,318

b. $1,382

c. $1,300

d. $2,216

Reference no: EM132760571

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