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.

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Problem Details

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.

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Our tutors have indicated that to solve this problem you will need to apply the Periodic Inventory - FIFO, LIFO, and Average Cost concept. You can view video lessons to learn Periodic Inventory - FIFO, LIFO, and Average Cost. Or if you need more Periodic Inventory - FIFO, LIFO, and Average Cost practice, you can also practice Periodic Inventory - FIFO, LIFO, and Average Cost practice problems.

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