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A Company Made the Following Merchandise Purchases and Sales During

Question 210

Essay

A company made the following merchandise purchases and sales during the month of May:
 May l  Pur chased 380 units at $15 each  May 5  Pur chased 270 units at $17 each  May 10  Sold 400 units at $50 each  May 20  Pur chased 300 units at $22 each  May 25  Sold 400 units at $50 each \begin{array} { | l | l | l | l | } \hline \text { May l } & \text { Pur chased } & 380 \text { units at } & \$ 15 \text { each } \\\hline \text { May 5 } & \text { Pur chased } & 270 \text { units at } & \$ 17 \text { each } \\\hline \text { May 10 } & \text { Sold } & 400 \text { units at } & \$ 50 \text { each } \\\hline \text { May 20 } & \text { Pur chased } & 300 \text { units at } & \$ 22 \text { each } \\\hline \text { May 25 } & \text { Sold } & 400 \text { units at } & \$ 50 \text { each } \\\hline\end{array} There was no beginning inventory. If the company uses the weighted average periodic method, what would be the cost of the ending inventory?

Correct Answer:

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\[\begin{array} { | l | l | }
\hline 38...

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