Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 31) cougar company had the following balances and

31) Cougar Company had the following balances and transactions during 2019: Beginning Merchandise Inventory 120...

70.2K

Verified Solution

Question

Accounting

31) Cougar Company had the following balances and transactions during 2019: Beginning Merchandise Inventory 120 units at $80 March 10 Sold 60 units June 10 Purchased 240 units at $82 October 30 Sold 110 units What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2019 if the perpetual inventory system and the weighted -average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar.) A) $24,480 B) $13,776 C) $8976 D) $15,504

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A Solve for the missing angle to 400 50 5 degrees 12 7 degrees 36...

Calculus
Q

in your opinion how easy is to establish a positive saftey culture in an organisation which has...

Civil Engineering
Q

how does pancreatic juice enter the alimentary canal? what does bile contribute to digestion? how does bile enter...

Medical Sciences
Q

what is meant by the term “Management by exception”? If employees are chronically unable to meet...

Accounting
Q

Today and due to the spread of COVID19, we can observe that some sectors in an...

Economics
Q

11 Find the value of f 4 if f t 10 t t f 4...

Basic Math
Q

Shawn has been hired as a sales associateHorizon Mobile Phone Company. He has twosalary options....

Basic Math
Q

Lets assume that a late twentieth century university graduate got a good job and began...

Accounting
Q

How much will $12,000 grow to in five years, assuming an interest rate of 8%...

Accounting
Q

Identify and explain international trading and trading blocs. (3 marks) B). Based on your research,...

Accounting
Q

A firm's sustainable growth rate represents the: a)Highest growth rate without increasing financial...

Finance
Q

On October 1, 2020. C's employer provided him with the use of a car. The...

Finance