The actual total cost of all purchased or beginning inventory units in the preceding table is $116,000 ($33,000 + $54,000 + $29,000). The total of all purchased or beginning inventory units is 450 (150 beginning inventory + 300 purchased). The weighted average cost per unit is therefore $257.78 ($116,000 Ã· 450 units.).The ending inventory valuation is $45,112 (175 units Ã $257.78 weighted average cost), while the cost of goods sold valuation is $70,890 (275 units Ã $257.78 weighted average cost).The sum of these two amounts (less a rounding error) equals the $116,000 total actual cost of all purchases and beginning inventory.he actual total cost of all purchased or beginning inventory units in the preceding table is $116,000 ($33,000 + $54,000 + $29,000). The total of all purchased or beginning inventory units is 450 (150 beginning inventory + 300 purchased). The weighted average cost per unit is therefore $257.78 ($116,000 Ã· 450 units.).
In 1972, the company changed its name to Cintas and then went public in 1983. [citation needed] Farmer also tried products that were new at the time, such as fabrics that resisted wrinkles and stains, to grow the company to an almost 30 percent market share in uniforms.
Cintas is a publicly held company traded on the Nasdaq Global Select Market under the symbol CTAS and is a component of the Standard & Poor's 500 Index. The company is one of the largest in the industry with 35,000 employees in 2017. Revenue in fiscal year 2016 was $4.905 billion and net income was $693.52 million.