Answer:
$55,565.76
Explanation:
Calculation for the value of ending inventory using the weighted average method
First step is to find the Equivalent units
Equivalent units = (4,800 × 50%)
Equivalent units = 2,400
Second step is to find the conversion costs
Conversion costs (4,800 × 100%)
Conversion costs= 4,800
Last step is to calculate for the value of ending inventory
Ending inventory= ($8.91 × 2,400) + ($7.1212× 4,800)
Ending inventory=$21,384+$34,181.76
Ending inventory=$55,565.76
Therefore the value of ending inventory using the weighted average method would be closest to: $55,565.76
