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Cinnamon Corp. started business in 2007 and uses the weighted average cost method. During 2007, it purchased 45,000 units of inventory at 10 each and
Cinnamon Corp. started business in 2007 and uses the weighted average cost method. During 2007, it purchased 45,000 units of inventory at 10 each and sold 40,000 units for 20 each. In 2008, it purchased another 50,000 units at l1 each and sold 45,000 units for 22 each. Its 2008 cost of sales thousands) was closest to A. 490. B. 491 C. 495
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