Kentucky,Inc.purchases and sells widgets.The following information summarizes the company's operating activities for the year: $$\begin{array} { | l | r | }
\hline \text { Selling and Administrative Expenses } & \$ 5,300 \
\hline \text { Purchases } & 156,000 \
\hline \text { Sales Revenue } & 783,000 \
\hline \text { Merchandise Inventory, January 1 } & 2,300 \
\hline \text { Merchandise Inventory, December 31 } & 38,800 \
\hline
\end{array}$$
If the company sold 7,000 units of widgets during the year,how much is the cost for one widget? (Round your answer to the nearest cent.)
A) $22.29
B) $17.07
C) $22.61
D) $5.87

Question

Kentucky,Inc.purchases and sells widgets.The following information summarizes the company's operating activities for the year: $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 5,300 \
\hline \text { Purchases } & 156,000 \
\hline \text { Sales Revenue } & 783,000 \
\hline \text { Merchandise Inventory, January 1 } & 2,300 \
\hline \text { Merchandise Inventory, December 31 } & 38,800 \
\hline
\end{array}$$ 
If the company sold 7,000 units of widgets during the year,how much is the cost for one widget? (Round your answer to the nearest cent.)
A) $22.29
B) $17.07
C) $22.61
D) $5.87

Quizplus · Accepted Answer

The Answer of Kentucky,Inc.purchases and sells widgets.The following information summarizes the company's operating activities for the year: $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 5,300 \
\hline \text { Purchases } & 156,000 \
\hline \text { Sales Revenue } & 783,000 \
\hline \text { Merchandise Inventory, January 1 } & 2,300 \
\hline \text { Merchandise Inventory, December 31 } & 38,800 \
\hline
\end{array}$$ 
If the company sold 7,000 units of widgets during the year,how much is the cost for one widget? (Round your answer to the nearest cent.)
A) $22.29
B) $17.07
C) $22.61
D) $5.87

Kentucky,Inc If the Company Sold 7,000 Units of Widgets During the Activities