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Lewis, Inc. had the following balances and transactions during 2016: Beginning Merchandise Inventory 140 units at $80 March 10 Sold 70 units June 10 Purchased
Lewis, Inc. had the following balances and transactions during 2016: Beginning Merchandise Inventory 140 units at $80 March 10 Sold 70 units June 10 Purchased 280 units at $82 October 30 Sold 120 units What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2016 if the perpetual inventory system and the weighted - average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar.) O A. $18,768 OB. $9,792 O C. $15,392 OD. $28,560
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