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    porkchop44_85's Avatar
    porkchop44_85 Posts: 1, Reputation: 1
    New Member
     
    #1

    Mar 23, 2008, 12:10 PM
    Perpetual Inventory
    I need to check to see if my answer to a problem is correct.
    Determine the ending inventory cost?
    jan.1 beg. Inventory... 50 units at @$20
    7 purchase... 200 units @$22
    feb.10 purchase... 130 units @ $23
    mar.5 purchase... 180 units @ $24
    23 purhcase... 100 units @ $26

    My answer is $5410 ending inventory.. is this correct??
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Mar 23, 2008, 05:16 PM
    Since they are all purchases...

    jan.1 beg. Inventory... 50 units at @$20 = 1,000
    7 purchase... 200 units @$22 = 4,400
    feb.10 purchase... 130 units @ $23 = 2,990
    mar.5 purchase... 180 units @ $24 = 4,320
    23 purhcase... 100 units @ $26 = 2,600

    Ending Inventory = 1,000 + 4,400 + 2,990 + 4,320 + 2,600 = 15,310

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