Problem 11-18 (AICPA Adapted)During the month of January, Metro Company which used aperpetual inventory system recorded the followinginformation pertaining to inventory:Units Unit cost Total cost Units on handBalance on 1/1Purchased on 1/7 6,000Sold on 1/20Purchased 1/2510,0001003001,000,0001,800,00010,00016,0007,00011,0009,0004,0005002,000,000Under the moving average method, what amount shouldMetro report as inventory on January 31?a. 2,640,000b. 3,225,000c. 3,300,000d. 3,900,000

Name: Problem 11-18 (AICPA Adapted)During the month of January, Metro Compa
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Description: Problem 11-18 (AICPA Adapted)During the month of January, Metro Company which used aperpetual inventory system recorded the followinginformation pertaining to inventory:Units Unit cost Total cost Units on handBalance on 1/1Purchased on 1/7 6,000Sold

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Problem 11-18 (AICPA Adapted) During the month of January, Metro Company which used a perpetual inventory system recorded the following information pertaining to inventory: Units Unit cost Total cost Units on hand Balance on 1/1 10,000 Purchased on 1/7 6,000 Sold on 1/20 Purchased 1/25 100 1,000,000 1,800,000 10,000 16,000 7,000 11,000 300 9,000 4,000 500 2,000,000 Under the moving average method, what amount should Metro report as inventory on January 31?

Problem 11-18 (AICPA Adapted) During the month of January, Metro Company which used a perpetual inventory system recorded the following information pertaining to inventory: Units Unit cost Total cost Units on hand Balance on 1/1 10,000 Purchased on 1/7 6,000 Sold on 1/20 Purchased 1/25 100 1,000,000 1,800,000 10,000 16,000 7,000 11,000 300 9,000 4,000 500 2,000,000 Under the moving average method, what amount should Metro report as inventory on January 31?

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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