accounting questions 403684
Acompany had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the FIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?
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accounting questions 403684
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| A $296 | |
| B $304 | |
| C $276 | |
| D$280 | |
| G $288 |
Given the following information, determine the cost of goods sold at December 31 using the Weighted Average perpetual inventory method.
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.
| A $332.10 | |
| B $282.15 | |
| C $281.25 | |
| D $210.30 | |
| G $290.70 |
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