Clean Sweep,Inc

question 160

Multiple Choice

Clean Sweep,Inc.started the month of June with $600 worth of cleaning supplies.During the month,Clean Sweep purchased $400 of supplies for cash.At June 30,$300 worth of supplies was unused.How much cleaning supplies expense will the company show on its income statement for the month of June?

• A)$300
• B)$100
• C)$1,000
• D)$700

---

Definitions:

Weighted-Average Method

A technique used in inventory valuation that averages the costs of all goods available for sale during the accounting period.

Process Costing

A costing methodology used in manufacturing where costs are allocated to processes or departments and then assigned to units of product.

Job-Order Costing

Job-order costing is an accounting method that collects and assigns manufacturing costs to individual goods or jobs, allowing for detailed tracking of production expenses.

Industry

A sector of the economy that is comprised of businesses and organizations that engage in similar types of production, services, or activities.