Tomas Company Uses the Perpetual Inventory System and the Moving-Average

question 104

Multiple Choice

Tomas Company uses the perpetual inventory system and the moving-average method to value inventories. On August 1 there were 10000 units valued at $30000 in the beginning inventory. On August 10 20000 units were purchased for $4.95 per unit. On August 15 25000 units were sold for $12 per unit. The amount charged to cost of goods sold on August 15 was

• A) $30000.
• B) $99375.
• C) $107500.
• D) $118800.

---

Definitions:

Legitimate Social Contract

An agreement deemed valid and acceptable by those involved, often referring to the consensus on societal rules and norms.

Interpersonal Concordance

The level of agreement or harmony in attitudes, values, or interests among individuals within a group.

Universal Ethical Principle

Fundamental moral guidelines that are believed to be universally applicable to all individuals regardless of culture, time, or situation.

Oldest Approaches

The earliest methods or strategies adopted in dealing with issues or executing tasks within a particular field or discipline.