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Accounting

Problem:

ABC began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units.

Required:

Question: Assume the use of periodic inventory procedure. The cost of goods sold using weighted-average is:

$147,200
$160,350
$155,250
$114,000
None of the above

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164649

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