Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marcel Co. uses the weighted-average cost method to account for inventory. Sales were $30,000 for the year. The number of units available for sale during

Marcel Co. uses the weighted-average cost method to account for inventory. Sales were $30,000 for the year. The number of units available for sale during the year was 180. The weighted-average cost of the goods available for sale was $20 each. The number of units left in ending inventory for the year was 50. How much was Cost of Goods Sold for the year?

a. $1,000

b. $2,600

c. $11,500

d. $3,600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Impact On Decision Makers

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

1111464936, 978-1111464936

More Books

Students also viewed these Accounting questions

Question

How would you describe Mark Zuckerberg as a team leader?

Answered: 1 week ago