A firm has the following transactions with its product R.1 January 20X1 Opening inventory：
I、February 20X1 nil Buys 10 units at $300 per unitII February 20X1 1 April 20X1 Buys 12 units at $250 per unit 1 August 20X1 1 December 20X1 Sells 8 units at $400 per unit Buys 6 units at $200 per unit Sells 12 units at $400 per unit The firm uses periodic weighted average cost (AVCO) to value its inventory. What is the inventory value at the end of the year?
A、$nil
B、$2,057.12
C、$2,400.00
D、$2,007.20
I、February 20X1 nil Buys 10 units at $300 per unitII February 20X1 1 April 20X1 Buys 12 units at $250 per unit 1 August 20X1 1 December 20X1 Sells 8 units at $400 per unit Buys 6 units at $200 per unit Sells 12 units at $400 per unit The firm uses periodic weighted average cost (AVCO) to value its inventory. What is the inventory value at the end of the year?
A、$nil
B、$2,057.12
C、$2,400.00
D、$2,007.20
【参考答案及解析】
* 4,500/ 10 Price per unit under periodic weighted average cost:= Total cost /(opening quantity + total quantity received)= ($300 x 10) + ($250 x 12) + ($200 x 6)/(0+10+12 + 6)= $257.14 per unit. Valuation of closing inventory of 8 units (10+12-8+6-12) x $257.14 = $2,057.12
* 4,500/ 10 Price per unit under periodic weighted average cost:= Total cost /(opening quantity + total quantity received)= ($300 x 10) + ($250 x 12) + ($200 x 6)/(0+10+12 + 6)= $257.14 per unit. Valuation of closing inventory of 8 units (10+12-8+6-12) x $257.14 = $2,057.12