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

-Assuming Mullenax Company 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 the order of occurrence, the purchases and sales of Mullenax Company for an operating period. 
 
-Assuming Mullenax Company uses weighted-average (perpetual) inventory procedures, sale No. 2 is recorded as an entry to Cost of Goods Sold for:

Quizplus · Accepted Answer

The weighted-average cost method calculates the cost of goods sold based on the average cost of all units available for sale. The specific calculation would depend on the inventory records, but based on the options given, $7,632 is the correct cost for sale No. 2 using the weighted-average method.

Use the Following Information to Answer