Glasgow Enterprises started the period with 85 units in beginning inventory that cost $2.60 each. During the period, the company purchased inventory items as follows. Glasgow sold 315 units after purchase 3 for $2.60 each. Purchase No. of Items Cost 1 290 $ 3.10 2 195 $ 3.20 3 50 $ 3.60 Glasgow's ending inventory under weighted average would be approximately: (Round your intermediate calculations to 2 decimal places.)

$945.50

Explanation:

The computation of the weighted average is shown below:

Ending inventory = opening inventory + Purchase - Sales

= 85 + (290 + 195 + 50) -  315

= 620 - 315

= 305

Average cost per unit = (Beginning inventory units × price per unit + purchase inventory units × price per unit + purchase inventory units × price per unit ) ÷ (Beginning inventory units + purchase inventory units + purchase inventory units)

= (85 × $2.60 + 290 × $3.10 + 195 × $3.20 + 50 × $3.60) ÷ (85 + 290 + 195 + 50)

= ($221 + 899 + $624 + $180 ) ÷ (620)

= $1924 ÷ 620

= $3.1

Weighted average = Ending inventory × Average cost per unit

= 305 × $3.1

= $945.50

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.