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ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: Beginning inventory 1,100 units @ $22.10 cost per unit Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 1 June 6 June 11 June 15 June 19 June 23 Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units June 26 June 28 Purchased 2,500 units @ $28.20 cost per unit Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.

ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: Beginning inventory 1,100 units @ $22.10 cost per unit Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 1 June 6 June 11 June 15 June 19 June 23 Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units June 26 June 28 Purchased 2,500 units @ $28.20 cost per unit Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 5PA: Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances...
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Question 5 ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: June 1 Beginning inventory 1,100 units @ $22.10 cost per unit June 6 Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 11 June 15 June 19 June 23 June 26 June 28 Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units Purchased 2,500 units @ $28.20 cost per unit During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.
Transcribed Image Text:Question 5 ZZ Company employs a periodic inventory system and sells its inventory to customers for $39 per unit. ZZ Company had the following inventory information available for June: June 1 Beginning inventory 1,100 units @ $22.10 cost per unit June 6 Purchased 3,400 units @ $16.40 cost per unit Sold 3,000 units June 11 June 15 June 19 June 23 June 26 June 28 Purchased 1,300 units @ $33.60 cost per unit Sold 1,200 units Purchase 3,700 units @ $20.70 cost per unit Sold 3,600 units Purchased 2,500 units @ $28.20 cost per unit During June, ZZ Company reported operating expenses of $18,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ZZ Company's June 30 balance sheet using the weighted average method.
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