Multiple Choice
Hopewell Ltd.had 1,000 units of inventory on hand at the beginning of the year worth $4,000.During the year, they purchased 15,000 units at $4.25 and 10,000 units at $4.40.They sold 24,500 units during the year.If Hopewell uses the average cost assumption for inventory valuation, what would their ending inventory value at year-end be closest to?
A) $6,325
B) $6,447
C) $6,465
D) $6,600
Correct Answer:
Verified
Correct Answer:
Verified
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