Use the Following Information for Questions Below
a Company Had

question 10

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during April:
$$\begin{array}{l}\text { }\\\begin{array} { l l l l l} &&\text {units }&\text { unit cost}&\text { total cost}\\\text { beginning}&\text {inventory }&800&\$10.00&\$8,000\\\text { purchase}&\text {april 6 }&1,400&11.00&15,400\\\text {sale }&\text {april }&(1,500) \\\text {purchase }&\text {april 17}&900&10.50&9,450\\\text {sale }&\text {april 24 }&(900) \\\end{array}\end{array}$$
-If the company is using a perpetual system and the weighted-average cost formula,what is the cost of goods sold closest to?

• A)$24,380
• B)$24,840
• C)$25,459
• D)$25,631

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Definitions:

Revocation Effective

The point at which a revocation, or calling back of an offer, becomes legally binding.

Invitation to Negotiate

A pre-contractual communication inviting parties to discuss terms before entering into a formal agreement.

Option Contract

A contract that gives the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a specific time frame.

Standard Sales Contract

An agreement that outlines the terms and conditions of a sale, typically using established clauses to facilitate common transactions.