Lewis Company Had the Following Balances and Transactions During 2014

question 116

Multiple Choice

Lewis Company had the following balances and transactions during 2014: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory } & 100 \text { units at } \$ 80 \\\hline \text { March } 10 & \text { Sold } 50 \text { units } \\\hline \text { June 10 } & \text { Purchased } 200 \text { units at } \$ 82 \\\hline \text { October 30 } & \text { Sold } 150 \text { units } \\\hline\end{array}$$ What would the Cost of Goods Sold be as reported on the income statement for the year ending December 31, 2014 if the perpetual weighted-average costing method is used? (Round your intermediate calculations to two decimal places)

• A) $8,160
• B) $20,400
• C) $16,240
• D) $12,000

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