Mathematics · Inventory Valuation
A company values inventory using the weighted average cost method. At 1 October, there were 60 units in inventory valued at $12 each. On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October. On 21 October, 75 units were sold for $1,200. What was the value of closing inventory at 31 October?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$1,170
- 2$1,125
- 3$1,110✓
- 4$1,080
Correct answer
$1,110
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