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Other Fields Homework Help Accounting Topic started by: H3Ko on Aug 29, 2016



Title: Lewis, Inc. had the following balances and transactions during 2016:Beginning Merchandise ...
Post by: H3Ko on Aug 29, 2016
Lewis, Inc. had the following balances and transactions during 2016:

Beginning Merchandise Inventory   150 units at $80
March 10   Sold 50 units
June 10   Purchased 300 units at $82
October 30   Sold 130 units

What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2016 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) $22,005
B) $32,600
C) $10,595
D) $14,595


Title: Re: Lewis, Inc. had the following balances and transactions during 2016:Beginning Merchandise ...
Post by: .unplugged. on Aug 29, 2016
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Title: Re: Lewis, Inc. had the following balances and transactions during 2016:Beginning Merchandise ...
Post by: H3Ko on Oct 12, 2016
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right


Title: Re: Lewis, Inc. had the following balances and transactions during 2016:Beginning Merchandise ...
Post by: lauraillanes on Oct 10, 2018
thank you so much


Title: Re: Lewis, Inc. had the following balances and transactions during 2016:Beginning Merchandise ...
Post by: j-sizzle4 on Dec 12, 2019
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