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A company purchased 100 units for $30 each on January 31. It purchased 150 units for $25 on February 28. It sold 150 units for
A company purchased 100 units for $30 each on January 31. It purchased 150 units for $25 on February 28. It sold 150 units for $50 each from March 1 through December 31. If the company uses the weighted-average inventory costing method, calculate the amount of Cost of Goods Sold on the income statement for the year ending December 31. (Assume the company uses the perpetual inventory system.)
A $6,750 | |
B $4,050 | |
C $3,000 | |
D $3,750 |
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