A Shirts Company uses a periodic inventory system. During the first year of operations, the company made four purchases of a particular product. The first purchase includes 500 units at a cost of $9 per unit, the second purchase includes 500 units at a cost of $10 per unit, the third purchase includes 500 units at a cost of $12 per unit and the fourth purchase includes 500 units at a cost of $13 per unit, At year-end, 650 of these units remained unsold. Compute the cost of goods sold under the Weighted Average method: O a. $14,850 O b. $10,612 O . 56,160 O d. $8,690

A Shirts Company uses a periodic inventory system. During the first year of operations, the company made four purchases of a particular product. The first purchase includes 500 units at a cost of $9 per unit, the second purchase includes 500 units at a cost of $10 per unit, the third purchase includes 500 units at a cost of $12 per unit and the fourth purchase includes 500 units at a cost of $13 per unit, At year-end, 650 of these units remained unsold. Compute the cost of goods sold under the Weighted Average method: O a. $14,850 O b. $10,612 O . 56,160 O d. $8,690

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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