Underwood had cost of goods sold of $8 million and its ending inventory was $2 million. Therefore, its days' sales in inventory equals 25 days.

T/F

A company had the following purchases and sales during its first month of operations:

Date	Activities	Units Acquired at Cost	Units Sold at Retail
January 1	Purchase	10 units @ $4.00 = $40.00
January 9	Sales		6 units @ $12.00
January 17	Purchase	8 units @ $5.50 = $44.00
January 27	Sales		7 units @ $12.00

Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weighted average cost per unit to 2 decimal places.)

Multiple Choice

• $23.35.

• $46.70.

• $37.36.

• $84.00.

• $60.71.