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Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Units Unit Cost Beginning inventory 50 $10 Purchase (June 5). 20
Mama's Mexican Meals, Inc., had the following activity for an inventory item during June:
|
|
Units | Unit Cost |
| Beginning inventory | 50 | $10 |
| Purchase (June 5). | 20 | 16 |
| Purchase (June 15) | 30 | 14 |
| Sale (June 20). | 40 |
|
| Sale (June 25). | 20 |
|
| Purchase (June 30) | 10 | 20 |
Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be
| a. | $512 |
| b. | $560 |
| c. | $768 |
| d. | $785 |
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