32. Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 10 units were purchased at $12 per unit. August 18, 15 units were purchased at $14 per unit. August 29, 12 units were sold. What was the amount of the cost of goods sold for this sale? A. $148.00 B. $150.50 C. $158.40 D. $210.00 E.$330.00 22. The Inventory account A. is always updated for each purchase and sale B. is a controlling account for the inventory subsidiary ledger C. contains a separate record (units and costs) for each separate product D. A and B E, A, B and C 20. Costs included in the Merchandise Inventory account can include: A. Invoice price minus any discount B. Freight-in C. Storage D. Insurance E. All of the above 21. Physical counts of inventory: A. Are not necessary under the perpetual system B. Are necessary to measure and adjust for inventory shrinkage C. Must be taken at least once a month D. Require the use of hand-held portable computers E. Are not necessary under the cost-to benefit constraint 13. Which of the following accounts would be closed with a credit? A. Sales Discounts B. Sales Returns and Allowances C. Cost of Goods Sold D. Operating Expenses E. All of the above 14. Nonoperating activities A. Are an indication that the company has ceased operations and will probably declare bankruptcy in the near future B. Are reported in two sections: 1. General and Administrative and 2. Selling C. Are unrelated to a company's operations D. Are a key indicator that the company is having dificulties paying debts in a timely manner E. All of the above