A Company Purchased 80 Units for $40 Each on January

question 125

Multiple Choice

A company purchased 80 units for $40 each on January 31.It purchased 200 units for $35 each on February 28.It sold 200 units for $50 each from March 1 through December 31.If the company uses the weighted-average inventory costing method,calculate the amount of Cost of Goods Sold on the income statement for the year ending December 31.(Assume the company uses the perpetual inventory system.Round any intermediate calculations two decimal places,and your final answer to the nearest dollar. )

• A)$10,200
• B)$7,286
• C)$3,200
• D)$7,000

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Definitions:

Exons

Regions within a gene that are kept after splicing and translated into protein.

Protein-coding Regions

Parts of the DNA or RNA composed of exons that are translated into proteins.

Anticodon

In a tRNA, set of three nucleotides that base-pairs with an mRNA codon.

tRNA

Transfer RNA, a type of RNA molecule that helps decode a messenger RNA (mRNA) sequence into a protein during protein synthesis.