On 31 March Harvey Norman Ltd sold 15 Samsung S21 phones for $1550 each. At that date, the stock card for the Samsung S21 phones sold had a total of 50 phones on hand at an average cost of $955 each. Assume Harvey Norman Ltd uses the weighted average costing method. What is the cost of the phones sold recognised in the income statement?

Select one:

$47 750

$14 325

$23 250

$33 425