A company purchased 110 units for $40 each on January 31.It purchased 200 units for $25 each on February 28.It sold 200 units for $50 each from March 1 through December 31.If the company uses the weighted-average inventory costing method,calculate the amount of Cost of Goods Sold on the income statement for the year ending December 31.(Assume the company uses the perpetual inventory system.Round any intermediate calculations two decimal places,and your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

11ea86d6_8220_4e3c_92b6_0562e6b0f39f_TB2804_00 Cost of Goods Sold = 200 units × $30.32 = $6,064

A Company Purchased 110 Units for $40 Each on January