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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
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
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
5 years ago
thank you so much
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#4
4 years ago
ty
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