A company had the following purchases during its first year of operations: Purchases 20 units at S 5 per unit 30 units at $ 4 per unit Sales January Аpril May 15 units Using the perpetual Weighted average inventory costing method, what is the cost of goods sold? S 6 O $ 82 O $ 78 O $ 70

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.