Question
A company's inventory records for the month are provided below. March 1, beginning inventory 28 units at $17 each March 5, purchase 15 units at
A company's inventory records for the month are provided below.
| March 1, beginning inventory | 28 units at $17 each |
| March 5, purchase | 15 units at $16 each |
| March 8, purchase | 14 units at $14 each |
On March 15, the company sold 42 units for $20 each. According to the Weighted Average inventory costing method, what was gross profit?
| $168.00 | ||
| $672.00 | ||
| $912.00 | ||
| $240.00 |
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Government And Not For Profit Accounting Concepts And Practices
Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese
9th Edition
1119803896, 978-1119803898
