Jacob Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | }
\hline \text { Beginning Merchandise } & \
\text { Inventory } & 13 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold 11 units } \
\hline \text { Iune 10 } & \text { Purchased 26 units at } \$ 89 \
\hline \text { October 30 } & \text { Sold 20 units } \
\hline
\end{array}$$ 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.)

Question

Jacob Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise } & \
\text { Inventory } & 13 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold 11 units } \
\hline \text { Iune 10 } & \text { Purchased 26 units at } \$ 89 \
\hline \text { October 30 } & \text { Sold 20 units } \
\hline
\end{array}$$ 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.)

Quizplus · Accepted Answer

The Answer of Jacob Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise } & \
\text { Inventory } & 13 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold 11 units } \
\hline \text { Iune 10 } & \text { Purchased 26 units at } \$ 89 \
\hline \text { October 30 } & \text { Sold 20 units } \
\hline
\end{array}$$ 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.)

Jacob Company Had the Following Balances and Transactions During 2019