Given the Following Data, Calculate the Cost of Goods Sold

question 78

Multiple Choice

Given the following data, calculate the cost of goods sold for the period using the weighted-average method for a periodic inventory system, rounding to the nearest dollar. (Do not round in the process of your calculations, only round your final answer.)
$\begin{array} { l l l } 1 / 1 & \text { Beginning inventory } & 40 \text { units at } \$ 12 \text { per unit } \\3 / 5 & \text { Purchases } & 20 \text { units at } \$ 14 \text { per unit } \\4 / 15 & \text { Sale } & 30 \text { units at } \$ 30 \text { per unit } \\5 / 30 & \text { Purchases } & 40 \text { units at } \$ 11 \text { per unit } \\11 / 15 & \text { Sale } & 50 \text { units at } \$ 32 \text { per unit } \\12 / 31 & \text { Ending inventory } & 20 \text { units }\end{array}$

• A) $966
• B) $2,500
• C) $960
• D) $980

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Definitions:

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Psychologists from the period of the 1900s to 1920, who contributed foundational theories and research methodologies to the field of psychology.

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The process of examining or observing one's own mental and emotional states.

Hallucinogens

Hallucinogens are a class of drugs that cause profound alterations in perception, mood, and thought, often leading to visual or auditory hallucinations.

Risk of Dependence

The potential for becoming reliant on a substance or activity, often resulting in physical or psychological addiction.