Question
Toulouse Co. began the month of November with 150 baubles on hand at a cost of $4.00 each. These baubles sell for $7.00 each. The
Toulouse Co. began the month of November with 150 baubles on hand at a cost of $4.00 each. These baubles sell for $7.00 each. The following schedule presents the sales and purchases of this item during the month of November.
| Purchases |
| |
Date of Transaction | Quantity Received | Unit Cost | Units Sold |
November 5 |
|
| 100 |
November 7 | 200 | $4.20 |
|
November 9 |
|
| 150 |
November 11 | 200 | 4.40 |
|
November 17 |
|
| 220 |
November 22 | 250 | 4.80 |
|
November 29 |
|
| 100 |
If Toulouse uses perpetual average cost inventory pricing, the sale of 220 items on November 17 will be recorded at a unit cost of
Group of answer choices
$4.16
$4.20
$4.32
$4.00
#28
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