Lemke Corp. uses a perpetual inventory system with a (moving) weighted average inventory costing method. The following information is available for the month of April: Apr. 1 On hand, 30 units at $5.00 each $150 8 Purchased 40 units at $5.35 each $214 15 Sold 50 units 22 Purchased 40 units at $5.50 each $220 30 On hand, 60 units Refer to the information provided for Lemke Corp. How much is the cost of goods sold for the units sold on April 15th? a.$245 b.$270 c.$260 d.$255
Lemke Corp. uses a perpetual inventory system with a (moving) weighted average inventory costing method. The following information is available for the month of April: Apr. 1 On hand, 30 units at $5.00 each $150 8 Purchased 40 units at $5.35 each $214 15 Sold 50 units 22 Purchased 40 units at $5.50 each $220 30 On hand, 60 units Refer to the information provided for Lemke Corp. How much is the cost of goods sold for the units sold on April 15th? a.$245 b.$270 c.$260 d.$255
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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Lemke Corp. uses a perpetual inventory system with a (moving) weighted average inventory costing method. The following information is available for the month of April:
Refer to the information provided for Lemke Corp. How much is the cost of goods sold for the units sold on April 15th?
Apr. | 1 | On hand, 30 units at $5.00 each | $150 | |
8 | Purchased 40 units at $5.35 each | $214 | ||
15 | Sold 50 units | |||
22 | Purchased 40 units at $5.50 each | $220 | ||
30 | On hand, 60 units |
Refer to the information provided for Lemke Corp. How much is the cost of goods sold for the units sold on April 15th?
a.$245
b.$270
c.$260
d.$255
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