Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $11.00 per letter. In February, it purchased H thru L at $13.00 per letter. It purchased M thru R in March at $14.00 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year.If Alphabet Company uses the weighted average method, what is the cost of its ending inventory? (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.)
A. $87
B. $180
C. $151
D. $97
Answer: C
You might also like to view...
On a resume, Work Experience is an optional section
Indicate whether the statement is true or false
Which of the following is an example of an asset account?
A) Revenue B) Salaries Payable C) Cash D) Payroll Tax Expense
Regression analysis is a statistical procedure for developing a mathematical equation that describes how
a. one independent and one or more dependent variables are related. b. several independent and several dependent variables are related. c. one dependent and one or more independent variables are related. d. one dependent, one independent, and several error variables are related.
An apparel designing company is planning to enter the women's trousers market. They are in the process of developing a product that will appeal most to customers. What category does the above objective fall under?
a. Capital budgeting problem b. Covering problem c. Fixed-cost problem d. Product design and market share optimization problem