Please do not give solution in image format thanku The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of TongBeginning InventoryPurchase No. 1Sale No. 1Purchase No. 2Sale No. 2Purchase No. 3TotalsUnits2020UnitCost70200$116124TotalCost90 128 11,520144$2,2302,480UnitsUnitsSold on Hand308010,080$26,400 1102040101002090Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is:Select one:O A. $11,880OB. $11,520O C. $12,624D. $14,520

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Description: Please do not give solution in image format thanku The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of TongBeginning InventoryPurchase No. 1Sale No. 1Purchase No. 2Sale No. 2Purchase No. 3T

Using average method, the average cost per unit is calculated as the total cost of goods available…

Business

Accounting

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of To Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Unit Units Cost Select one: O A $11,880 OB. $11,520 OC. $12,624 220 $116 124 70 200 Total Cost 90 128 11,520 $2,230 2,480 144 Units Units Sold on Hand 30 10,080 $26,400 110 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: 80 20 40 10 100 20 90

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of To Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Unit Units Cost Select one: O A $11,880 OB. $11,520 OC. $12,624 220 $116 124 70 200 Total Cost 90 128 11,520 $2,230 2,480 144 Units Units Sold on Hand 30 10,080 $26,400 110 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: 80 20 40 10 100 20 90

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 2TF: Under the periodic inventory system, the ending inventory is entered by debiting Merchandise...

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