The 123 Accounting Company sells accounting videos. The following information has been extracted from the records of 123 Accounting Co. January 1: Opening Inventory is 60 units @ $10/each January 10: Bought 100 units @ $11 each January 15: Bought 100 units @ $13 each January 20: Sold 220 units @ $20 each January 25: Bought 40 units @ $15 each If 123 Accounting uses the weighted average method of inventory and the perpetual method then the average cost of each unit charged to cost of sales when the sale is made will be: Multiple Choice O O O O $13.27 None of the other alternatives are correct. $10.63 $11.54 $10

The 123 Accounting Company sells accounting videos. The following information has been extracted from the records of 123 Accounting Co. January 1: Opening Inventory is 60 units @ $10/each January 10: Bought 100 units @ $11 each January 15: Bought 100 units @ $13 each January 20: Sold 220 units @ $20 each January 25: Bought 40 units @ $15 each If 123 Accounting uses the weighted average method of inventory and the perpetual method then the average cost of each unit charged to cost of sales when the sale is made will be: Multiple Choice O O O O $13.27 None of the other alternatives are correct. $10.63 $11.54 $10

Name: The 123 Accounting Company sells accounting videos. The following inf
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Description: The 123 Accounting Company sells accounting videos. The following information has been extracted from the records of 123 Accounting Co.January 1: Opening Inventory is 60 units @ $10/eachJanuary 10: Bought 100 units @ $11 eachJanuary 15: Bought 100 u

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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