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Calculate the dollar value of the ending inventory

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Reference no: EM131751020

During the last year Leathers Unlimited sold 702 jackets. Inventory records for the year are as follows:

DATE

  

QUANTITY

COST

TOTAL

January 1

Beginning Inventory

100

$79

mce_markernbsp; 7,900

March 21

Purchase

300

60

18,000

July 8

Purchase

450

62

27,900

October 1

Purchase

400

58

23,200

December 14

Purchase

100

77

7,700

Total available for sale

  

1,350

  

$84,700

Using the average cost method of inventory pricing calculate the dollar value of the ending inventory. (Round the average cost per unit to the nearest cent)

Reference no: EM131751020

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