A Company Had the Following Purchases and Sales During Its

question 70

Multiple Choice

A company had the following purchases and sales during its first month of operations: $\begin{array}{|l|l|}\hline \text { January 1 } & \text { Purchased } 10 \text { units at } \$ 4.00 \text { per unit } \\\hline \text { January } 9 & \text { Sold } 6 \text { units at } \$ 12.00 \text { per unit } \\\hline \text { January 17 } & \text { Purchased } 8 \text { units at } \$ 5.50 \text { per unit } \\\hline \text { January 27 } & \text { Sold } 7 \text { units at } \$ 12.00 \text { per unit } \\\hline\end{array}$ Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weighted average cost per unit to 2 decimal places.)

• A)$23.
• B)$5.
• C)$27.
• D)$61.
• E)$84.

---

Definitions:

Cultural

Pertaining to the customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Contextual

Related to, dependent on, or being the context of a situation or event which influences its meaning or effect.

Biological

Relating to biology; pertaining to the science of life or living organisms.

Psychological

Pertaining to the mind or mental processes, often involving emotional and cognitive functions.