Question
Howard's Hardware had the following transactions in their inventory account for the month of June. Pounds Cost Total Inventory, 6/1 100 $2.10 $210.00 Purchases: June
Howard's Hardware had the following transactions in their inventory account for the month of June.
|
| Pounds | Cost | Total |
| Inventory, 6/1 | 100 | $2.10 | $210.00 |
| Purchases: |
|
|
|
| June 2 | 420 | 2.75 | 1,155.00 |
| June 6 | 200 | 3.00 | 600.00 |
| June 8 | 300 | 3.25 | 975.00 |
| June 18 | 280 | 4.00 | 1,120.00 |
| Total
| 1300
|
| 4060.00
|
|
|
Pounds |
Selling Price |
|
| Sales: |
|
|
|
| June 7 | 250 | $15.00 | $3,750.00 |
| June 12 | 400 | 16.00 | 6,400.00 |
| June 20 | 500 | 16.50 | 8,250.00 |
| Total | 1150 |
| 18400.00 |
Howard uses perpetual Weighted (or Moving) Average. What is the approximate Cost of Goods Sold for the month of June?
a. $ 3,460.00
b. $ 600.00
c. $ 3,712.50
d. $ 3,551.00
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Acca Paper 3.1 Audit And Assurance
Authors: N/a
1st Edition
075172680X, 978-0751726800
