Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales: $$\begin{array} { | l | l | }
\hline \text { January 1 } & 20 \text { units were purchased at \$10 per unit. } \
\hline \text { January } 12 & 12 \text { units were sold. } \
\hline \text { January } 20 & 18 \text { units were purchased at \$11 per unit. } \
\hline
\end{array}$$
- What is the value of cost of goods sold?

Question

Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales: $$\begin{array} { | l | l | } 
\hline \text { January 1 } & 20 \text { units were purchased at \$10 per unit. } \
\hline \text { January } 12 & 12 \text { units were sold. } \
\hline \text { January } 20 & 18 \text { units were purchased at \$11 per unit. } \
\hline
\end{array}$$
- What is the value of cost of goods sold?

Quizplus · Accepted Answer

The Answer of Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales: $$\begin{array} { | l | l | } 
\hline \text { January 1 } & 20 \text { units were purchased at \$10 per unit. } \
\hline \text { January } 12 & 12 \text { units were sold. } \
\hline \text { January } 20 & 18 \text { units were purchased at \$11 per unit. } \
\hline
\end{array}$$
- What is the value of cost of goods sold?

Monarch Company Uses a Weighted-Average Perpetual Inventory System and Has