Question

QUESTION 3 Charlene Cosmetics Company just began business and made the following four inventory purchases in June: June 1 150 units $ 1,040 June 10 200 units 1,560 June 15 200 units 1,680 June 28 150 units 1,320 $5,600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is $1,639. $1,824. $1,764. $1,680.

Answer 1

Answer: $1680

Ending inventory = (5600/700)*210 = 1680

Inventory Balance Cost Per Ending Unit Inventory # of Units Periodic : Average Cost Goods Purchasd Cost of Goods Sold cost of Goods Cost Per Available for # of Units Cost Per Cost of # of Units Unit s ales sold Unit Goods Sold Jun-01 150 1040 Jun-10 2001 1560 Jun-15 2001 1680 Jun-28 150 1320 Totals 700 8.000 5600 490 8.000 3920 210 8 1680 Answer: $ 1680 Ending Invenotry 1680