Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please if someone could help me as soon as possible O A company purchased 90 units for $20 each on January 31. It purchased 200

please if someone could help me as soon as possible image text in transcribed
image text in transcribed
O A company purchased 90 units for $20 each on January 31. It purchased 200 units for $25 each on February 28. It sold 200 units for $60 each from March 1 through December 31. If the company uses the weighted - average inventory costing method, calculate the amount of Cost of Goods Sold on the income statement for the year ending December 31. (Assume the company uses the perpetual inventory system. Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.) O A. $1,800 B. $5,000 C. $6,800 D. $4,690 A company purchased inventory for $3,000 from a vendor on account, FOB shipping point, with terms of 4/10,n/30. The company paid the shipper $100 cash for freight in. The company then returned damaged goods worth $400. The invoice was then paid eight days after the invoice date. Assuming that there was no beginning inventory balance, the cost of inventory would be (Assume a perpetual inventory system.) O A. $2,596 OB. $2,880 O c. $2,496 OD. $2,900

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

Sound Investing, Chapter - Classification Deceit

Authors: Kate Mooney

2nd Edition

0071719385, 9780071719384

More Books

Students also viewed these Accounting questions

Question

2. Does supply exactly match demand?

Answered: 1 week ago

Question

0) G 84 84 F H 60 60 25 U S AHGE~ 35 T

Answered: 1 week ago