Kentucky purchases and sells widgets.The following information summarises Kentucky's operating activities for 2017:
$$\begin{array} { | l | l | }
\hline \text { Selling and administrative expenses } & \$ 4600 \
\hline \text { Purchases } & 159,000 \
\hline \text { Sales revenue } & 785,000 \
\hline \text { Inventory, 1 January 2017 } & 33,600 \
\hline \text { Inventory, 31 December 2017 } & 76,800 \
\hline
\end{array}$$
If the company sold 7700 units of widgets during 2017,how much is the cost for one widget?
A) $20.65
B) $25.01
C) $14.34
D) $15.04

Question

Kentucky purchases and sells widgets.The following information summarises Kentucky's operating activities for 2017:
$$\begin{array} { | l | l | } 
\hline \text { Selling and administrative expenses } & \$ 4600 \
\hline \text { Purchases } & 159,000 \
\hline \text { Sales revenue } & 785,000 \
\hline \text { Inventory, 1 January 2017 } & 33,600 \
\hline \text { Inventory, 31 December 2017 } & 76,800 \
\hline
\end{array}$$
If the company sold 7700 units of widgets during 2017,how much is the cost for one widget?
A) $20.65
B) $25.01
C) $14.34
D) $15.04

Quizplus · Accepted Answer

The Answer of Kentucky purchases and sells widgets.The following information summarises Kentucky's operating activities for 2017:
$$\begin{array} { | l | l | } 
\hline \text { Selling and administrative expenses } & \$ 4600 \
\hline \text { Purchases } & 159,000 \
\hline \text { Sales revenue } & 785,000 \
\hline \text { Inventory, 1 January 2017 } & 33,600 \
\hline \text { Inventory, 31 December 2017 } & 76,800 \
\hline
\end{array}$$
If the company sold 7700 units of widgets during 2017,how much is the cost for one widget?
A) $20.65
B) $25.01
C) $14.34
D) $15.04

Kentucky Purchases and Sells Widgets If the Company Sold 7700 Units of Widgets During 2017,how