Nordic Industries Uses a Periodic Inventory System

question 131

Multiple Choice

Nordic Industries uses a periodic inventory system.During its first month of operations, Nordic Industries purchased inventory as follows:

There were 100 units in ending inventory on January 31.
-Use the information above to answer the following question.Under the weighted average cost method,what is the cost of goods sold for January?

• A) $18,000
• B) $20,250
• C) $3,150
• D) $2,250

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Definitions:

Input Metric

An indicator or measure used to assess specific aspects or performance within a system or process.

New-Product Pipeline

The process and stages that a new product goes through from conception to commercialization, including ideation, development, and launch.

Innovation

The process of creating new ideas, products, or methods, which bring about significant improvements or competitive advantage.

Product-Development

The process of bringing a new product or service to the market, from the initial idea through design, development, testing, and launch.