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19 20 Marquis Company uses a weighted average perpetual inventory system and has the following purchases and sales: August 2 August 18 August 29 20
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Marquis Company uses a weighted average perpetual inventory system and has the following purchases and sales: August 2 August 18 August 29 20 units were purchased at $11 per unit. 25 units were purchased at $13 per unit. 22 units were sold. What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Multiple Choice 0 $545.00 0 $266.42 0 $325.00 0 $246.00 0 $248.50 Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Units Sold at Retail Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 340 units @ $19 315 units @ $21 235 units @ $29 195 units @ $22 185 units @ $30 O $8.900 O O $8,360 O O $9,225Step by Step Solution
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