Quan Uses a Periodic Inventory System - If Quan,Inc

question 155

Multiple Choice

Quan uses a periodic inventory system.The company had the following data for the month of April:
$$\begin{array}{lll}\text { April } 1 & \text { On hand, } 10 \text { units } @ \$ 2 \text { each } & \$ 20 \\19 & \text { Purchased } 90 \text { units } @ \$ 3 \text { each } & 270 \\& \text { Cost of goods avail able for sale } & \$ 290\\30 &\text { On hand, } 20 \text { units }\end{array}$$
- If Quan,Inc.uses the weighted average cost method,how much is cost of goods sold for April?

• A)$230
• B)$232
• C)$240
• D)$250

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