The following data pertain to a particular item sold by Pomegranate Company. 8/1 – Beg. invy: 2,000 @ P50=100,000 8/8 – Purchases: 9,000 @ P52=468,000 8/10 – Sales: 1,500 @ P105=157,500 8/14 – Purchases: 3,000 @ P55=165,000 8/20 – Sales: 8,000 @ P110=880,000 8/29 – Purchases: 1,500 @t P59=88,500 Using the weighted average method, how much is the gross profit during the month of August?

The following data pertain to a particular item sold by Pomegranate Company. 8/1 – Beg. invy: 2,000 @ P50=100,000 8/8 – Purchases: 9,000 @ P52=468,000 8/10 – Sales: 1,500 @ P105=157,500 8/14 – Purchases: 3,000 @ P55=165,000 8/20 – Sales: 8,000 @ P110=880,000 8/29 – Purchases: 1,500 @t P59=88,500 Using the weighted average method, how much is the gross profit during the month of August?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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