A Company Uses Weighted-Average Method of Inventory Valuation Under Periodic

question 7

Multiple Choice

A company uses weighted-average method of inventory valuation under periodic inventory system. The company began the year with a zero inventory balance. They had the following transactions during the year. 1. Purchased 65 units at $5 per unit
2. Purchased 100 units at $5 per unit
3. Sold 80 units at a price of $12.00 per unit
4. Purchased 55 units at $6 per unit
5. Sold 80 units at a price of $12.75 per unit
At the end of the year, they counted the inventory and found 60 units remaining. Calculate the Cost of goods sold for the year. (Round your intermediate calculations to two decimal places)

• A)$420
• B)$315
• C)$577
• D)$840

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Definitions:

Managerial Value System

A set of beliefs and principles that influence how managers make decisions and lead their organizations, reflecting their priorities and ethical standards.

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An organizational culture style focused on efficiency, specialization, and adherence to rules and roles, aiming for operational effectiveness.

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The set of core principles and ethics that guide a leader's decisions and actions.

Strategy Implementation

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