Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: 24 units were purchased at $5 per unit. 29 units were purchased at $7 per unit. 26 units were sold. What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) August 2 August 18 August 29 Multiple Choice $323.00 $203.00 $134.00 $158.34 $136.50

Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: 24 units were purchased at $5 per unit. 29 units were purchased at $7 per unit. 26 units were sold. What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) August 2 August 18 August 29 Multiple Choice $323.00 $203.00 $134.00 $158.34 $136.50

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PB: Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20,...

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Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).
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