Cougar Company Had the Following Balances and Transactions During 2019

question 157

Multiple Choice

Cougar Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory } & 120 \text { units at } \$ 80 \\\hline \text { March 10 } & \text { Sold } 60 \text { units } \\\hline & \text { Purchased 240 units at } \\\text { June } 10 & \$ 82 \\\hline \text { October 30 } & \text { Sold } 110 \text { units } \\\hline\end{array}$$ What would be reported as Cost of Goods Sold on the income statement for the year ending December 31,2019 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar.)

• A) $15,504
• B) $24,480
• C) $13,776
• D) $8,976

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