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Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: ...

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Question

Accounting

Mama's Mexican Meals, Inc., had the following activity for an inventory item during June:

Units

Unit

Cost

Beginning inventory

50

$10

Purchase (June 5).

20

16

Purchase (June 15)

30

14

Sale (June 20).

40

Sale (June 25).

20

Purchase (June 30)

10

20

Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be

a.

$512

b.

$560

c.

$768

d.

$785

Answer & Explanation Solved by verified expert
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