Cougar Company 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 Company 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

11ea8a75_4212_6626_a2a1_1bbc77d80cfc_TB6701_00 Cost of Goods Sold = $4,800 + $8,976 = $13,776

Cougar Company Had the Following Balances and Transactions During 2019