Pina Colada Corp. just began business and made the following four inventory purchases in June:
June 1 | 171 units | $1026 | ||
June 10 | 228 units | 1596 | ||
June 15 | 228 units | 1824 | ||
June 28 | 171 units | 1539 | ||
$5985 |
A physical count of merchandise inventory on June 30 reveals that
there are 228 units on hand. Using the average cost method, the
amount allocated to the ending inventory on June 30 is
$1710.
$1824.
$1597.
$1995.
Total units = 171+228+228+171 = 798 units
Average cost per unit = Total cost/Total units
= 5985/798 = 7.50 per unit
Cost of ending inventory = 228 units * 7.50 per unit
= 1710
Option A is the answer
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