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Beginning inventory First purchase Second purchase Third purchase 11 units at $51 18 units at $53 26 units at $24 13 units at
Assets Exam Calculator Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 12
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Answer #1

Ending inventory balance at the end of the year according the average cost method is as calculated below:

Weighted Average Cost of goods available for sale Cost of goods sold Ending Inventory
No. of units Cost per unit Cost of goods available for sale No. of units Cost per unit Cost of goods sold No. of units Cost per unit Ending Inventory
Beginning Inventory 11 51 561 47 43 2,036 21 43 909
Purchases:
First Purchase 18 53 954
Second Purchase 26 24 624
Third Purchase 13 62 806
Total 68 43.3088 2,945 47 2,036 21

909

Ending Inventory balance is $909

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