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Table 6-1
Assume the Following Data for Burnette Merchandising for 2019

Question 71

Multiple Choice

Table 6-1
Assume the following data for Burnette Merchandising for 2019:  Beginning inventory 10 units at $7 each  March 18 purchase 15 units at $9 each  June 10 purchase 20 units at $10 each  October 30 purchase 12 units at $11 each \begin{array} { | l | l | } \hline\text { Beginning inventory } & 10 \text { units at } \$ 7 \text { each } \\\hline \text { March } 18 \text { purchase } & 15 \text { units at } \$ 9 \text { each } \\\hline \text { June } 10 \text { purchase } & 20 \text { units at } \$ 10 \text { each } \\\hline \text { October } 30 \text { purchase } & 12 \text { units at } \$ 11 \text { each } \\\hline\end{array} On December 31, a physical count reveals 15 units in ending inventory.
-Refer to Table 6-1. Assume a periodic inventory system. Under the weighted-average method, cost of goods sold on the income statement would be:


A) $396.
B) $294.
C) $389.
D) $420.

Correct Answer:

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