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What the ending inventory cost rounded to nearest dollar is

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Reference no: EM132838315

The following units of an inventory item were available for sale during the year.

Beginning inventory 10 units at $55

First purchase 25 units at $60

Second purchase 30 units at $65

Third purchase 15 units at $70

Problem 1: The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The ending inventory cost rounded to nearest dollar using average cost is

a. $1,375

b. $1,150

c. $1,263

d. $1,353

Reference no: EM132838315

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