of beginning inventory at a cost of $3.00. During the year, the company made the following purchases: May, 1200 units at $4.00 and July, 800 units at $6.00. If Hudson Company sold 1400 units during the year, what amount would the company report as ending inventory if the company uses the weighted average cost method to value inventory? (round to the nearest dollar). O $4,884 O $4,767 O $6,216 O $6,067 O None of the above.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Hudson Company started its year with 500 units of beginning inventory at a cost of $3.00. During
the
the
company made the following purchases: May, 1200 units at $4.00 and July, 800 units
at $6.00. If Hudson Company sold 1400 units during the year, what amount would the company
year,
report as ending inventory if the company uses the weighted average cost method to value
inventory? (round to the nearest dollar).
O $4,884
O $4,767
$6,216
$6,067
O None of the above.
Transcribed Image Text:Hudson Company started its year with 500 units of beginning inventory at a cost of $3.00. During the the company made the following purchases: May, 1200 units at $4.00 and July, 800 units at $6.00. If Hudson Company sold 1400 units during the year, what amount would the company year, report as ending inventory if the company uses the weighted average cost method to value inventory? (round to the nearest dollar). O $4,884 O $4,767 $6,216 $6,067 O None of the above.
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