Question
Julie Ltd is a retailer selling USB sticks and uses the perpetual inventory system and the Weighted Average Cost to value inventories. On August 1,
Julie Ltd is a retailer selling USB sticks and uses the perpetual inventory system and the Weighted Average Cost to value inventories.
On August 1, there were 10,000 units valued at $30,000 in the beginning inventory.
On August 10, 20,000 units were purchased for $6 per unit.
On August 15, 24,000 units were sold for $12 per unit.
The amount relating to cost of sales on August 15 was
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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
