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What amount should Metro report as inventory on January

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Reference no: EM132964587

Question - During January of the current year, Metro Company which maintains a perpetual inventory system, recorded the following information pertaining to its inventory:

Units Unit cost Total cost

Balance on 1/1 10,000 100 1,000,000

Purchased on 1/7 6,000 300 1,800,000

Sold on 1/20 9,000

Purchased 1/25 4,000 500 2,000,000

Purchased Return on 1/26 1,000 500 500,000

Required - Under the moving average method, what amount should Metro report as inventory on January 31?

a. 2,725,000

b. 3,225,000

c. 3,300,000

d. 5,000,000

Reference no: EM132964587

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