A hardware merchant using the average cost method of valuing inventory has 350 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at $3.50 in April, 150 purchased at $3.62 in May, and 150 purchased at $3.72 in June. Compute the value of the ending inventory of hammers at average cost.

Question

A hardware merchant using the average cost method of valuing inventory has 350 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at $3.50 in April, 150 purchased at $3.62 in May, and 150 purchased at $3.72 in June. Compute the value of the ending inventory of hammers at average cost.​

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The Answer of A hardware merchant using the average cost method of valuing inventory has 350 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at $3.50 in April, 150 purchased at $3.62 in May, and 150 purchased at $3.72 in June. Compute the value of the ending inventory of hammers at average cost.​

A Hardware Merchant Using the Average Cost Method of Valuing