-If Shillings Is Using a Perpetual System and the Weighted

question 38

Multiple Choice

$\begin{array}{l}\text { Shillings had the following inventory activity during April: }\\\\\begin{array} { | l | r | r | r | } \hline & \text { Units } & \text { Unit cost } & \text { Total cost } \\\hline \text { Beginning inventory } & 800 & \$ 10.00 & \$ 8,000 \\\hline \text { Purchase: April 4 } & 1,400 & 11.00 & 15,400 \\\hline \text { Sale: April 8 } & ( 1,500 ) & & \\\hline \text { Purchase: April 12 } & 900 & 10.50 & 9,450 \\\hline \text { Sales: April 24 } & ( 900 ) & & \\\hline\end{array}\end{array}$
-If Shillings is using a perpetual system and the weighted average costing assumption, what is the cost of goods sold closest to?

• A) $24,683
• B) $24,777
• C) $25,012
• D) $25,458

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Definitions:

Glomeromycota

A phylum of fungi forming symbiotic relationships with the roots of most plants, aiding in their nutrient absorption.

Endomycorrhizae

A type of mycorrhiza in which the fungus penetrates the cortical cells of the roots of a vascular plant, forming a mutualistic relationship.

Chytrids

A phylum of simple, aquatic fungi that can be parasitic or saprobic and have a unique mode of mobility involving flagella.

Flagellate

A unicellular nonphotosynthetic protist that has one or more long, whiplike flagella.