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Question

**Jessup's Trailer Sales purchased utility trailers from a manufacturer at these quantities and unit costs over a two-month period: April 4, 20 at $376; May 2, 34 at$340; May 29, 18 at $381. The beginning inventory of 9 utility trailers had a total value of$3,159. Find the value of the 31 utility trailers in the May 31 ending inventory:**

using the weighted average method (round the unit cost of the beginning inventory and purchases to the nearest dollar.)

Solution

VerifiedStep 1

1 of 3$\dfrac{20\times \$376+34\times \$340+18\times \$381}{20+34+18}=\dfrac{\$25,938}{72}=\$360.25$

The weighted average is the sum of the product of the number of units bought and the price per unit divided by the total number of units.

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