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Inventory records for Marvin Company revealed the following: Unit Cost $7.11 Date Transaction Mar. 1 Beginning inventory Mar. 10 Purchase Mar. 16 Purchase Mar. 23
Inventory records for Marvin Company revealed the following: Unit Cost $7.11 Date Transaction Mar. 1 Beginning inventory Mar. 10 Purchase Mar. 16 Purchase Mar. 23 Purchase Number of Units 1,050 580 880 520 7.31 7.47 7.65 Marvin sold 2,100 units of inventory during the month. Cost of goods sold assuming weighted average cost would be: (Do not round your intermediate calculations and round your final answer to nearest dollar amount. Round weighted-average unit cost to 4 decimals if necessary.) Multiple Choice $15,426. $15,351. O $14,931. $15,509. The following information pertains to Julia & Company: March 1 Beginning inventory = 34 units @ $5.30 March 3 Purchased 19 units @ 4.50 March 9 Sold 27 units @ 8.30 What is the ending inventory balance for Julia & Company assuming that it uses FIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $86. O O $126. O O $138. O O $123 The following information pertains to Julia & Company: March 1 Beginning inventory = 31 units @ $5.30 March 3 Purchased 15 units @ 4.20 March 9 Sold 26 units @ 8.50 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O $138. $121. O O $109. O O $107. Consider the following inventory transactions for September: Beginning inventory Purchase on September 12 Purchased on September 23 17 units @ $2.80 30 units @ $3.40 12 units @ $3.90 For the month of September, the company sold 33 units. What is cost of goods sold under the weighted average cost method? (Do not round your intermediate calculations. Round the weighted-average unit cost to 4 decimals if necessary. Round your answer to the nearest dollar amount.) Multiple Choice O $127. O $129. O $110. O O $92
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