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The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of To Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Unit Units Cost Select one: O A $11,880 OB. $11,520 OC. $12,624 220 $116 124 70 200 Total Cost 90 128 11,520 $2,230 2,480 144 Units Units Sold on Hand 30 10,080 $26,400 110 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: 80 20 40 10 100 20 90

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of To Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Unit Units Cost Select one: O A $11,880 OB. $11,520 OC. $12,624 220 $116 124 70 200 Total Cost 90 128 11,520 $2,230 2,480 144 Units Units Sold on Hand 30 10,080 $26,400 110 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: 80 20 40 10 100 20 90

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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The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Tong Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Units 20 20 Unit Cost 70 200 $116 124 Total Cost 90 128 11,520 144 $2,230 2,480 Units Units Sold on Hand 30 80 10,080 $26,400 110 20 40 10 100 20 90 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: Select one: O A. $11,880 OB. $11,520 O C. $12,624 D. $14,520
Transcribed Image Text:The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Tong Beginning Inventory Purchase No. 1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 Totals Units 20 20 Unit Cost 70 200 $116 124 Total Cost 90 128 11,520 144 $2,230 2,480 Units Units Sold on Hand 30 80 10,080 $26,400 110 20 40 10 100 20 90 Assuming Tong Company uses weighted-average (periodic) inventory procedures, the ending inventory cost is: Select one: O A. $11,880 OB. $11,520 O C. $12,624 D. $14,520
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