Calculate the dollar value of the ending inventory

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Problem - Like New Express had 400 multi-function centers machines in stock at the end of the year. Inventory records for the year are as follows:

DATE


QUANTITY

COST

TOTAL

January 1

Beginning Inventory

50

$142

$   7,100

August 5

Purchase

100

269

26,900

October 19

Purchase

100

233

23,300

November 23

Purchase

300

189

56,700

December 16

Purchase

200

157

31,400

Total available for sale


750


$145,400

Using the average cost method of inventory pricing calculate the dollar value of the ending inventory.

Reference no: EM131751463

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