Transcribed Image Text: The following data applies to a particular item of merchandise:

Transcribed Image Text: The following data applies to a particular item of merchandise:
On hand at start of period
$5.10
300
1st purchase
500
5.20
2nd purchase
5.30
700
3rd purchase
600
5.50
Number of units available for sale
2,100
On hand at end of period
500
Number of units sold during period
1,600
Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first
purchase; 600 from the second purchase; and 200 from the last purchase. Using the weighted-average
costing method and rounding the average unit cost to the nearest whole cent, the cost of goods sold
would be
Oa. $11,130.
Оb, $8,480.
Oc. $8,410.
Od. $11,140. Transcribed Image Text: The following data applies to a particular item of merchandise:
On hand at start of period
300
$5.10
1st purchase
500
5.20
2nd purchase
700
5.30
3rd purchase
600
5.50
Number of units available for sale
2,100
On hand at end of period
500
Number of units sold during period
1,600
Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first
purchase; 600 from the second purchase; and 200 from the last purchase. Using the last-in, first-out
costing method, the value of the inventory on hand at the end of the period would be
Oa, $2,570.
Ob. $8,570.
Oc. $2,750.
Od. $2,730.

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