What is ending inventory under a periodic inventory system

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Reference no: EM13777943

What is the present value of a $10,000 bond, 7%, 5-year that pays interest annually? Market interest rate is 10%.

Inventory records for Herb's Chemicals revealed the following:

March 1, 2011, inventory: 1,000 gallons @ $7.20 = $7,200

Purchases

Mar 10 600 gals @7.25

Mar 16 800 gals @ 7.30

Mar 23 600 gals @7.35

Sales

Mar 5 400 gals

Mar 14 700 gals

Mar 20 500 gals

Mar 26 700 gals

What is the ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places)?

Reference no: EM13777943

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