Muscat Company has the following inventory information. Units Per unit price Total July 1 Beginning Inventory 20 units at OMR 19 Purchases 70 units at OMR 20 22 Purchases 10 units at OMR 22 The physical inventory count on July 31 shows 30 units on hand. Using the average-cost method, what is the value of ending inventory?

Muscat Company has the following inventory information. Units Per unit price Total July 1 Beginning Inventory 20 units at OMR 19 Purchases 70 units at OMR 20 22 Purchases 10 units at OMR 22 The physical inventory count on July 31 shows 30 units on hand. Using the average-cost method, what is the value of ending inventory?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...

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