On May 1, Mikrotek, Inc During May, 300 Units Were Sold

question 66

Multiple Choice

On May 1, Mikrotek, Inc.had 120 units of a certain software package that cost $6 apiece.During May, the following purchases were made: $\begin{array}{ll}\text { May 7 } & 60 \text { units @ } \$ 9.00 \\15 & 80 \text { units } @ \$ 12.00 \\21 & 140 \text { units@ } \$ 10.50\end{array}$
During May, 300 units were sold.If Mikrotek uses the weighted average method, the cost of ending inventory would be

• A)$ 922.50
• B)$2, 767.50
• C)$ 937.50
• D)$2, 182.50

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Definitions:

Vulnerabilities

Weaknesses in a system or security setup that can be exploited by threats.

Customer's Note

It is a formal promissory note or debt instrument where the customer promises to pay a specific sum of money to the issuer, often used in business as a form of short-term financing.

Bank Statement Adjustment

The process of amending the balance in a company's record of its bank account to match the balance reported on the bank statement, often involving adding or subtracting items like checks or bank charges.

Outstanding Checks

Checks that have been issued and recorded in an entity's accounting system but have not yet been cashed or cleared by the bank.