RJ Corporation has provided the following information about one of its inventory items: During the year,RJ sold 3,000 units.
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What was ending inventory using the average cost flow assumption?
A)$640,000.
B)$840,000.
C)$770,000.
D)$880,000.

Question

RJ Corporation has provided the following information about one of its inventory items:  During the year,RJ sold 3,000 units.
-
What was ending inventory using the average cost flow assumption?
A)$640,000. 
B)$840,000. 
C)$770,000. 
D)$880,000.

Quizplus · Accepted Answer

Since only the units sold are given, we need to know the total cost and number of units available to calculate ending inventory using the average cost method. This information is not provided in the question stem.

RJ Corporation Has Provided the Following Information About One of Its