Inventory information for Missoula Merchandising, Inc. is provided below. Sales for the period were 2,800 units for 8 each. The company uses a weighted average periodic inventory system.
Date Number of Units Unit Cost Total Cost
January 1 Beginning inventory 1,000 2.20 2,200
January Purchase 600 3.50 2,100
February Purchase 800 4.00 3,200
March Purchase 1,200 4.25 5,100
Totals 3,600 12,600
Determine the ending inventory at March 31.
A) 2,300
B) 3,300
C) 9,800
D) 2,800
Question 2
Accompanying the bank statement was a debit memo for an NSF check received from a customer. This itemwould be included on the bank reconciliation as a(n)
a. deduction from the balance per company's records
b. addition to the balance per bank statement
c. deduction from the balance per bank statement
d. addition to the balance per company's records
Equipment Inventory Record
Embryonic Period
Embryonic Period
Embryonic Period
Fetal Period
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...