The following units of an inventory item were available for sale during the year: beginning inventory 10 units at $55first purchase 25 units at $60second purchase 30 units at $65third purchase 15 units at $70the firm uses the periodic inventory system. during the year, 60 units of the item were sold. the value of ending inventory using average cost is:
$1,353$1,263$1,375$1,150

$1263

Explanation:

Given: Beginning inventory 10 units at $55

           First purchase 25 units at $60

           Second purchase 30 units at $65

           Third purchase 15 units at $70.

First, finding Total cost of available inventory to know weighted average cost.

Total cost=

∴ Beginning inventory=  

           First purchase=  

           Second purchase=  

           Third purchase = .

Total units available for sale=

Total cost of available inventory=

Now, finding Weighted average cost.

Weighted average cost=

Weighted average cost=

∴ Weighted average cost= $ 63.125.

As given, 60 units sold during the year, which mean 20 units is still remaining out of total 80 units.

The value of ending inventory=

∴ The value of ending inventory=

∴ The value of ending inventory using average cost is $1263

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

answer; only identify and interpret trends in the marketplace;