Swifty Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10000 $9.00 Purchases: June 18 9000 9.00 November 8 6000 6.00 A physical inventory on December 31 shows 4300 units on hand. Swifty sells the units for $14 each. The company has an effective tax rate of 22%. Swifty uses the periodic inventory method. The weighted-average cost per unit is $8.14. $8.28. $9.10. $8.04.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Swifty Company's inventory records show the following data:
Units
Unit Cost
Inventory, January 1
10000
$9.00
Purchases:
June 18
9000
9.00
November 8
6000
6.00
A physical inventory on December 31 shows 4300 units on hand. Swifty sells the units for $14 each. The company has an
effective tax rate of 22%. Swifty uses the periodic inventory method. The weighted-average cost per unit is
$8.14.
$8.28.
$9.10.
$8.04.
O O O
Transcribed Image Text:Swifty Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10000 $9.00 Purchases: June 18 9000 9.00 November 8 6000 6.00 A physical inventory on December 31 shows 4300 units on hand. Swifty sells the units for $14 each. The company has an effective tax rate of 22%. Swifty uses the periodic inventory method. The weighted-average cost per unit is $8.14. $8.28. $9.10. $8.04. O O O
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