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

question 61

Multiple Choice

A company uses the weighted-average method of inventory valuation under a periodic inventory system.The company began the year with a zero inventory balance.They had the following transactions during the year. 1.Purchased 64 units at $5 per unit
2.Purchased 110 units at $5 per unit
3.Sold 90 units at $10 per unit
4.Purchased 55 units at $6 per unit
5.Sold 90 units at $13.50 per unit
At the end of the year,the company counted the inventory and found 49 units remaining.Calculate the cost of goods sold for the year.(Round the unit costs to two decimal places and total costs to the nearest dollar. )

• A)$5
• B)$257
• C)$1,200
• D)$943

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Definitions:

Normal Accidents

A theory suggesting that in complex technological systems, accidents are inevitable due to the unpredictable interaction of multiple factors, despite precautions.

Human Subjectivity

The condition of being a subject: the quality that makes a person's experience, beliefs, and values unique from others.

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The deterioration of the environment through the depletion of resources, destruction of ecosystems, and extinction of wildlife.