Netta Shutters Has the Following Inventory Information A Physical Count of Merchandise Inventory on November 30 Reveals

question 86

Multiple Choice

Netta Shutters has the following inventory information. $\begin{array}{rll}\text { Nov. }1 & \text { Inventory } & 30 \text { units @ } \$ 8.00 \\8 & \text { Purchase } & 120 \text { units @ } \$ 8.30 \\17 & \text { Purchase } & 60 \text { units @ \$8.40 } \\25 & \text { Purchase } & 90 \text { units @ } \$ 8.80\end{array}$ A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is

• A) $1,740.
• B) $1,772.
• C) $1,778.
• D) $1,794.

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Definitions:

Supply Chain

A network of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.

Procurement

The process of finding, acquiring, and buying goods, services, or works from an external source, often via tendering or competitive bidding processes.

Procurement

Procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.