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Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Date August 2 August 18 August 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $28 = $280 Units Sold at Retail 15 units @ $30 = $450 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.)

Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Date August 2 August 18 August 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $28 = $280 Units Sold at Retail 15 units @ $30 = $450 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.)

FINANCIAL ACCOUNTING
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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Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Date August 2 August 18 August 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $28 = $280 Units Sold at Retail 15 units @ $30 = $450 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.)
Transcribed Image Text:Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Date August 2 August 18 August 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $28 = $280 Units Sold at Retail 15 units @ $30 = $450 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.)
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