Checkers Uses the Periodic Inventory System

question 41

Multiple Choice

Checkers uses the periodic inventory system.For the current month, the beginning inventory consisted of 1,200 units that cost $12 each.During the month, the company made two purchases: 500 units at $13 each and 2,000 units at $13.50 each.Checkers also sold 2,150 units during the month.Using the average cost method, what is the amount of cost of goods sold for the month?

• A)$27,843.
• B)$28,950.
• C)$26,975.
• D)$27,950.

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Definitions:

PID Controller

A control loop feedback mechanism widely used in industrial control systems, consisting of Proportional, Integral, and Derivative components to maintain process variables.

Network

A series of stations or devices connected by some type of communications medium.

Repeater

A device in telecommunications that receives a signal and retransmits it at a higher level or higher power, or onto the other side of an obstruction, so that the signal can cover longer distances without degradation.