Mathematics · Inventory Valuation
A company values its inventory using the Weighted Average Cost (AVCO) method. The following movements for an item occurred during October: 1 October: Opening inventory of 60 units valued at $12 each. 8 October: Purchased 40 units for $15 each. 14 October: Purchased 50 units for $18 each. 21 October: Sold 75 units for $1,200. What was the value of the closing inventory on 31 October?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$1,110✓
- 2$1,080
- 3$1,200
- 4$1,050
Correct answer
$1,110
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