Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost $10 Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720
Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost $10 Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June:
Unit
Units
Cost
Beginning inventory
Purchase (June 5).
Purchase (June 15)
Sale (June 20).
Sale (June 25).
Purchase (June 30)
50
$10
10
16
30
14
40
20
10
20
Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for
June would be
a. $512
b. $560
c. $768
d. $720](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff756f585-03a5-43cd-8ce3-41ff31c105dc%2Fc3b344af-70ad-4a20-be1f-f3da1d28a0ed%2F0luba9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June:
Unit
Units
Cost
Beginning inventory
Purchase (June 5).
Purchase (June 15)
Sale (June 20).
Sale (June 25).
Purchase (June 30)
50
$10
10
16
30
14
40
20
10
20
Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for
June would be
a. $512
b. $560
c. $768
d. $720
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