Acompany uses the periodic inventory system and had the following activity during the current monthly period. november 1: beginning inventory 116 units @ $28 november 5: purchased 108 units @ $30 november 8: purchased 58 units @ $31 november 16: sold 224 units @ $53 november 19: purchased 58 units @ $33 using the weighted average inventory method, the company's ending inventory would be reported at:

$3,480

Explanation:

November 1:Beginning inventory  116 units @ $28 (116 units, $3,248 value)

November 5:Purchased108 units @ $30  (108 units, $3,240 value)

November 8: Purchased58 units @ $31  (58 units, $1,798 value)

November 16:Sold224 units @ $53

November 19:Purchased 58 units @ $33  (58 units, $1,914 value)

First step is to calculate the weighted average cost for all units the company purchased:

If we sum up all the costs for the 4 purchases, we have:

3248 + 3240 + 1798 + 1914 = $10,200

Now, how many units were bought in those 4 transactions?

116 + 108 + 58 + 58 = 340 units

Weighted average cost per unit?

10200 / 340 = $30 / unit

Now, how many units left in inventory at the end?

340 units purchased - 224 units sold = 116 units left

Each unit is considered to be worth $30, so

116 units * $30/unit = $3,480

Using the weighted average inventory method, the company's ending inventory would be reported at: $3,480

a government agency or homeowner.- third choice