Question
Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 1,300 units of inventory that
Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 1,300 units of inventory that cost $6.10 each. On January 10, Year 1, the company purchased an additional 1,550 units of inventory that cost $8.40 each. If Koontz uses a weighted average cost flow method and sells 1,450 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 $10,360. $8,540. $12,180. $10,730.
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