Accounting Practice Problems Periodic Inventory - FIFO, LIFO, and Average Cost Practice Problems Solution: ABC Company employs a periodic inventory system an...

Solution: ABC Company employs a periodic inventory system and sells its inventory to customers for $15 per unit. ABC Company had the following inventory information available for the month of May: Calculate the dollar amount of  ending inventory shown on ABC Company's May 31 balance sheet using the weighted average method.

Problem

ABC Company employs a periodic inventory system and sells its inventory to customers for $15 per unit. ABC Company had the following inventory information available for the month of May:

Calculate the dollar amount of  ending inventory shown on ABC Company's May 31 balance sheet using the weighted average method.