Ronald, Inc. had the following balances and transactions during 2017:Beginning Merchandise Inventory 12 units at $91March 10 Sold 10 units June 10 Purchased 24 units at $87 October 30 Sold 18 units What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet, using the periodic weighted−average inventory costing method?

Ending inventory= $534

Explanation:

Giving the following information:

Beginning Merchandise Inventory: 12 units at $91

March 10: Sold 10 units

June 10: Purchased 24 units at $87

October 30: Sold 18 units

First, we need to calculate the number of units in ending inventory:

Ending inventory in units= total units - units sold

Ending inventory in units= 36 - 28= 8 units

Now, we can calculate the ending inventory cost using the weighted-average method:

Weighted-average cost= (91 + 87)/2= 89

Ending inventory= 6*$89= $534

$706.67

Explanation:

                                          purchased           sold            price         total

Beginning inventory                12                                      $91         $1,092      

March 10                                                           10

June 10                                     24                                     $87        $2,088

October 30                                                       18                                          

total                                           36                  (28)        $88.33        $3,180

the weighted average cost = total purchase costs / total units purchased = $3,180 / 36 = $88.33

ending inventory = (36 - 28) x $88.33 = $706.67

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