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Inventory

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Wize University Introduction to Financial Accounting Textbook > Merchandising

Perpetual Inventory System

1 Activity

Wayne Corp sells t-shirts. Wayne’s inventory information for the month of January is found in this table:

Wayne Corp uses the perpetual inventory system and the weighted average costing method. All purchases and sales are made on account.

Round to the second decimal place (example: $1.25).
Calculate the cost of Wayne’s ending inventory at January 31.