Koontz Company uses the perpetual inventory method On January 1, Year 1, the companys first day of operations, Koontz purchased 550 units of inventory that cost $3 10 each On January 10, Year 1, the company purchased an additional 800 units of inventory that cost $3 90 each If Koontz uses a weighted average cost flow method and sells 700 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately (Round your intermediate calculations to one decimal place ) Multiple Choice $2,015 $2,340 $2,520 $2,730 Koontz Company uses the perpetual inventory method On January 1, Year 1, the company's first day of operations, Koontz purchased 550 units of inventory that cost $3 10 each On January 10, Year 1, the company purchased an additional 800 units of inventory that cost $3 90 each If Koontz uses a weighted average cost flow method and sells 700 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately (Round your intermediate calculations to one decimal place ) Multiple Choice 2,01 SI SMO la $2,520 Prev 8 of 11 ll Next

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 550 units of inventory that

Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 550 units of inventory that cost $3.10 each. On January 10, Year 1, the company purchased an additional 800 units of inventory that cost $3.90 each. If Koontz uses a weighted average cost flow method and sells 700 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately: (Round your intermediate calculations to one decimal place.)

Multiple Choice

$2,015.

$2,340.

$2,520.

$2,730. image text in transcribed

Koontz Company uses the perpetual inventory method. On January 1, Year 1, the company's first day of operations, Koontz purchased 550 units of inventory that cost $3.10 each. On January 10, Year 1, the company purchased an additional 800 units of inventory that cost $3.90 each. If Koontz uses a weighted average cost flow method and sells 700 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately: (Round your intermediate calculations to one decimal place.) Multiple Choice 2,01 SI SMO la $2,520 Prev 8 of 11 ll Next>