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Assume that J-art uses a moving weighted average inventory system. During the period, it sold 14 units. Calculate the dollar value of its cost of
Assume that J-art uses a moving weighted average inventory system. During the period, it sold 14 units. Calculate the dollar value of its cost of goods sold for the period.
Jan. 1
Beginning Inventory
10 @ $12
Jan. 5
Purchase
10 @ $15
Jan. 30
Purchase
10 @ $18
Feb. 8
Sale
14 units x $30 each
Multiple choice question.$180
$420
$210
$240
Need help? Review these concept resources.
Assume that J-art uses a moving weighted average inventory system. During the period, it sold 14 units. Calculate the dollar value of its cost of goods sold for the period.
| Jan. 1
| Beginning Inventory | 10 @ $12 |
Jan. 5 | Purchase | 10 @ $15 |
Jan. 30 | Purchase | 10 @ $18 |
Feb. 8 | Sale | 14 units x $30 each |
Multiple choice question.
$180
$420
$210
$240
Need help? Review these concept resources.
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