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Inventory records for Herbs Chemicals revealed the following: March 1, 2018, inventory: 1,000 gallons @ $7.20 = $7.200 Purch
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Answer #1

Answer: 2nd Option)$5,050

Explanation:

Galons Rate($)
Opening balance(1-Mar) 1000 7.2
Sales (5-Mar) 400 7.2
Balance 600 7.2
Purchases(10-Mar) 600 7.25
Balance 600 7.2
600 7.25
Sales (14-Mar) 600 7.25
100 7.2
Balance 500 7.2
Purchases(16-Mar) 800 7.3
Balance 500 7.2
800 7.3
Sales (20-Mar) 500 7.3
Balance 500 7.2
300 7.3
Purchase(23-Mar) 600 7.35
Balance 500 7.2
300 7.3
600 7.35
Sales(26-Mar) 600 7.35
100 7.3
Balance (end) 500 7.2
200 7.3

Balance end=(500*7.2)+(200*7.3)

=3600+1460

=$5,060

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