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Lewis, Inc. had the following balances and transactions during 2016: Beginning Merchandise Inventory 120 units at $84 March 10 Sold 40 units June 10 Purchased
Lewis, Inc. had the following balances and transactions during 2016:
Beginning Merchandise Inventory | 120 units at $84 |
March 10 | Sold 40 units |
June 10 | Purchased 240 units at $86 |
October 30 | Sold 140 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.)
A.
$15,330
B.
$11,970
C.
$15,390
D.
$27,360
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