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What is ending inventory using the average cost method

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Question - Hank's Hardware House, which sells sheets of sandpaper in bulk. On October 1 Hank had 4000 sheets of sandpaper at an average cost of $.25 each. The store also made the following purchases of sandpaper inventory during the month

Date Units Purchased Cost Per Unit Total Cost

10/3 8000 $0.24 $1,920

10/17 3000 $0.26 $780

10/21 6000 $0.28 $1680

10/29 4000 $0.27 $1080

Total 21000 $5,460

If thestore sold 23,000 sheets of sandpaper during October, what is ending inventory using the average cost method of inventory costing?

Reference no: EM131787429

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