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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
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