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

Question

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

Quizplus · Accepted Answer

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

ReadersCom Uses a Perpetual Inventory System and Has the Following