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A Company Completed the Following Transactions in the Order Given

Question 73

Multiple Choice

A company completed the following transactions in the order given in its first year of operations:  unit transactionunits coasts  Purchase.300$4.00 Purchase.2004.20 Sales (@ $8.00) 280 Purchase.4004.40 Sales (@ $8.00) 360\begin{array} { |l|l|l| } \hline&& \text { unit}\\\hline \text { transaction}& \text {units }& \text {coasts }\\\hline \text { Purchase.}&300&\$4.00\\\hline \text { Purchase.}&200&4.20\\\hline \text { Sales (@ \$8.00) }&280\\\hline \text { Purchase.}&400&4.40\\\hline \text { Sales (@ \$8.00) }&360\\\hline\end{array}
Using the weighted-average inventory cost method (rounding each calculation to the nearest cent) the gross margin would be:


A) $2,463.78
B) $2,422.84
C) $2,433.20
D) $2,376.00

Correct Answer:

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