Kentucky,Inc If the Company Sold 7,900 Units of Widgets During the Activities

question 176

Multiple Choice

Kentucky,Inc.purchases and sells widgets.The following information summarizes the company's operating activities for the year: $$\begin{array} { | l | r | } \hline \text { Selling and Administrative Expenses } & \$ 5,300 \\\hline \text { Purchases } & 157,000 \\\hline \text { Sales Revenue } & 785,000 \\\hline \text { Merchandise Inventory, January 1 } & 2,350 \\\hline \text { Merchandise Inventory, December 31 } & 38,350 \\\hline\end{array}$$ If the company sold 7,900 units of widgets during the year,how much is the cost for one widget? (Round your answer to the nearest cent. )

• A)$19.87
• B)$15.32
• C)$20.17
• D)$5.15

---

Definitions:

Inventory Items

Goods or products that a company holds in stock with the intent to sell as part of its business operations.

Vendor Reports

Analytical summaries prepared to outline business transactions and performance metrics related to suppliers and vendors.

Reports Center

A feature or section within a software or platform where users can generate, access, and review various financial and operational reports.

QuickBooks

An accounting software package developed and marketed by Intuit, used by small and medium-sized businesses for bookkeeping.