Solved

Jacob, Inc What Is the Amount of the Company's Ending Merchandise Inventory

Question 181

Multiple Choice

Jacob, Inc. had the following balances and transactions during 2019:  Beginning Merchandise Inventory 11 units at $92 March 10  Sold 8 units  June 10 Purchased 33 units at $89 October 30  Sold 27 units \begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory } & 11 \text { units at } \$ 92 \\\hline \text { March 10 } & \text { Sold 8 units } \\ \hline \text { June } 10 & \text { Purchased } 33 \text { units at } \$ 89 \\\hline \text { October 30 } & \text { Sold 27 units } \\\hline\end{array} What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet, using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)


A) $109
B) $89
C) $326
D) $808

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents