Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Quebec, Inc. for an operating period.

-Assuming Quebec, Inc. uses weighted-average (perpetual) inventory procedures, sale No. 2 is recorded as an entry to Cost of Goods sold for:

Question

Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Quebec, Inc. for an operating period.
 
-Assuming Quebec, Inc. uses weighted-average (perpetual) inventory procedures, sale No. 2 is recorded as an entry to Cost of Goods sold for:

Quizplus · Accepted Answer

To determine the cost of goods sold (COGS) for sale No. 2 under the weighted-average (perpetual) inventory method, we calculate the average cost of the inventory items before the sale and then multiply that average cost by the number of items sold. Without the specific transaction details (quantities and costs of purchases and sales), we use the weighted-average formula: total cost of goods available for sale divided by total quantity of goods available for sale, then multiply by the quantity sold. The correct answer, C) $1,835.52, suggests that after calculating the weighted average cost per unit, multiplying by the quantity sold in sale No. 2 results in this COGS. This answer is based on the assumption that the provided options are derived from such a calculation.

Use the Following Information to Answer