A company had the following inventory activity during April: Units Unit Cost Total Cost Beginning inventory 800 $10.00 $8,000 Purchase: April 5 1,400 11.00 15,400 Sale: April 8 (1,500) Purchase: April 17 900 10.50 9,450 Sales: April 24 (900) If the company is using a perpetual system and the weighted-average cost formula, what is the cost of goods sold closest to? $24,380 $24,840 $25,459 $25,631

A company had the following inventory activity during April: Units Unit Cost Total Cost Beginning inventory 800 $10.00 $8,000 Purchase: April 5 1,400 11.00 15,400 Sale: April 8 (1,500) Purchase: April 17 900 10.50 9,450 Sales: April 24 (900) If the company is using a perpetual system and the weighted-average cost formula, what is the cost of goods sold closest to? $24,380 $24,840 $25,459 $25,631

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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