Question
A company that uses the perpetual inventory system sold goods to a customer on account on June 30 for$70. The company has the following inventoryinformation:
A company that uses the perpetual inventory system sold goods to a customer on account on June 30 for$70. The company has the following inventoryinformation:
June 1 Beginning Inventory 22 units at$2 each
June 10 Purchase 32 units at$3 each
June 11 Sale 17 units
June 30 Sale 14 units
The company uses the WeightedAverage method of inventory costing. Which of the following journal entries correctly records the sale on June30?(Round any intermediate calculations and your final answer to the nearestcent.)
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
