Use the following information for the following questions:
Transactions for Durham Ltd. for the month of June were:

-The ending inventory on a weighted average cost basis, rounded to the nearest dollar, is
A) $1,956.
B) $1,970.
C) $1,980.
D) $1,995.

Question

Use the following information for the following questions:
Transactions for Durham Ltd. for the month of June were:
 
-The ending inventory on a weighted average cost basis, rounded to the nearest dollar, is
A) $1,956. 
B) $1,970. 
C) $1,980. 
D) $1,995.

Quizplus · Accepted Answer

The ending inventory on a weighted average cost basis is $1,956. This is calculated by multiplying the ending inventory quantity by the weighted average cost per unit. The weighted average cost per unit is calculated by dividing the total cost of goods available for sale by the total number of units available for sale.

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