Readers.com uses a perpetual inventory system. feb.
$\begin{array}{rlr}
1 & \text { On hand, } 30 \text { units at } \$ 5.00 \text { each } & \$ 150 \
8 & \text { Purchased } 40 \text { units at } \$ 5.35 \text { each } & 214 \
15 & \text { Sold } 50 \text { units } & \
22 & \text { Purchased } 40 \text { units at } \$ 5.20 \text { each } & 208\
28& \text { On hand, 60 units }
\end{array}$ If Readers.com uses the moving average method, how much is cost of goods sold for the units sold on February 15?
A) $255
B) $260
C) $270
D) $245

Question

Quizplus · Accepted Answer

The moving average cost per unit after the purchase on February 8 is $5.18. Therefore, the cost of goods sold for 50 units on February 15 is 50 units x $5.18 = $259, rounded to $260.

ReadersCom Uses a Perpetual Inventory System If Readers