Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a business purchases 4 units of inventory on the 1

A business purchases 4 units of inventory on the 10th January for $600 each and...

60.1K

Verified Solution

Question

Accounting

A business purchases 4 units of inventory on the 10th January for $600 each and a further 6 units of inventory on 15th January for $650 each. The business sells 5 units on the 20th January. If the business uses the weighted average method for inventory valuation, what will be recorded as the Cost of Goods Sold for the sale of the 5 units on 20th January?

a. $3,050

b. $3,150

c. $3,000

d. $3,250

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

You need to describe these financial statements. The statementsare the profit and loss statement,...

Accounting
Q

Using the carrying capacity model recursively, k= 800 million, the population of the United States for...

Advance Math
Q

What effects does a developing fetus have on the female body? How does this relate to...

Medical Sciences
Q

Why is three wire method preferred for measuring the effective diameter of thread over two wire...

Mechanical Engineering
Q

Mary lost her backpack. She posted a note at the entrance to the bookstore saying: “Reward:...

General Management
Q

A box of mass 1 g is mounted with two cylinders each of mass 1...

Physics
Q

O x 2 y 2 25 O x 2 y 2 25 x 2 y...

Geometry
Q

Karen Gaines invested 14 000 in a money market account with an interest rate of...

Basic Math
Q

Given 8 11 14 17 20 What is the common difference for this Arithmetic Sequence...

Statistics
Q

Identify and describe a product that might be used on a daily basis. Then respond...

Accounting
Q

Calculus he table shows a city's closing price, in dollars, of one ounce...

Accounting
Q

What is a lump-sum purchase? How do we account for the lump-sum purchases of a...

Accounting