A company purchased 130 units for $30 each on 31 January.It purchased 200 units for $35 each on 28 February.It sold 200 units for $60 each from 1 March to 31 December.If the company uses the weighted-average inventory costing method,calculate the amount of cost of sales on the income statement for the year ending 31 December.(Assume the company uses the perpetual inventory system. )
A) $6606
B) $3900
C) $10,900
D) $7000
Correct Answer:
Verified
Q22: Which of the following inventory costing methods
Q23: A company that uses the perpetual
Q24: A company purchased 100 units for $30
Q25: Which of the following inventory costing methods
Q26: Lewis Company had the following balances
Q28: Which inventory valuation model serves as a
Q29: A company purchased 200 units for $30
Q30: A company that uses the perpetual
Q31: A company that uses the perpetual
Q32: Rodriguez Company had the following balances
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents