Cougar,Inc.had the following balances and transactions during 2019:

What would be reported as Cost of Goods Sold on the income statement for the year ending December 31,2019 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar. )

Question

Cougar,Inc.had the following balances and transactions during 2019:

What would be reported as Cost of Goods Sold on the income statement for the year ending December 31,2019 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar. )

Quizplus · Accepted Answer

C)
 11ea86ed_2cb9_64af_8b27_f72ac4cbd873_TB3056_00 Cost of Goods Sold = $4,000 + $11,410 = $15,410

Cougar,Inc.had the Following Balances and Transactions During 2019