Silver Lining Inc. uses the perpetual inventory method to account its silver purchases. They use average costing to keep a close eye on its purchase costs. After looking at the attached summary, how much should the ending cost of the silver inventory be? Grams Cost per Gram P 40.50 Date Transaction June. 1| Beginning Balance 5 Purchase 10 Purchase 16 Sale 1,200 2,400 40.80 2,700 41.20 6,000 24 Purchase 2,000 41.00
Silver Lining Inc. uses the perpetual inventory method to account its silver purchases. They use average costing to keep a close eye on its purchase costs. After looking at the attached summary, how much should the ending cost of the silver inventory be? Grams Cost per Gram P 40.50 Date Transaction June. 1| Beginning Balance 5 Purchase 10 Purchase 16 Sale 1,200 2,400 40.80 2,700 41.20 6,000 24 Purchase 2,000 41.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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