Special Sports Store, which uses the average cost method of valuing inventory, has 52 tennis rackets remaining in inventory. Special purchased tennis rackets over a three month-period as follows: 36 purchased at $15 on January 3, 48 purchased at $15.50 on February 5, and 24 purchased at $16 on March 7. Compute the value of the ending inventory of tennis rackets at average cost.

Question

Special Sports Store, which uses the average cost method of valuing inventory, has 52 tennis rackets remaining in inventory. Special purchased tennis rackets over a three month-period as follows: 36 purchased at $15 on January 3, 48 purchased at $15.50 on February 5, and 24 purchased at $16 on March 7. Compute the value of the ending inventory of tennis rackets at average cost.​

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The Answer of Special Sports Store, which uses the average cost method of valuing inventory, has 52 tennis rackets remaining in inventory. Special purchased tennis rackets over a three month-period as follows: 36 purchased at $15 on January 3, 48 purchased at $15.50 on February 5, and 24 purchased at $16 on March 7. Compute the value of the ending inventory of tennis rackets at average cost.​

Special Sports Store, Which Uses the Average Cost Method of Valuing