1) Assume Overland.com began May with 12 units of inventory that cost a total of $ 216. During May, Overland.com purchased and sold goods as follows:

May 8 Purchase 36 units @ $ 19

14 Sale 30 units @ $ 38

22 Purchase 24 units @ $ 21

27 Sale 36 units @ $ 38

Suppose Overland.com used the weighted-average inventory costing method and the perpetual inventory system. Compute the weighted-average unit cost of the company's inventory on hand at May 8. Round weighted-average unit cost to the nearest cent.

A. $ 20.00

B. $ 18.50

C. $ 18.75

D. Cannot be determined from the data given

2)

Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $ 252. During October, ShoeFanatic purchased and sold goods as follows:

	Oct.	8		Purchase	42 units @ $ 19
		14		Sale	35 units @ $ 38$38
		22		Purchase	28 units @ $ $21
		27		Sale	42 units @ $38

Under the FIFO inventory costing method and the perpetual inventory system, how much is ShoeFanatic.com's cost of goods sold for the sale on October 14?

A.$1,050

B.$ 665

C.$ 651

D. $1330

3)

Suppose Hamlet's had cost of goods sold during the year of $ 200,000. Beginning merchandise inventory was $60,000, and ending merchandise inventory was $80,000. Determine Hamlet's inventory turnover for the year. Round to the nearest hundredth.

A.10.00times per year

B. 2.50 times per year

C. 3.33 times per year

D. 2.86 times per year