Diligent Ltd Had 5 Units of the Commodity Algo on Hand

question 22

Multiple Choice

Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016.The following purchases and sales were made during September:
-What was the value of cost of goods sold of Algo,using the moving weighted average assumption and a perpetual inventory system?

• A) $2640
• B) $2700
• C) $2720
• D) $3180

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Definitions:

Manufacturer's Brand

Products branded and marketed by the manufacturer itself, as opposed to being sold under a retailer's brand.

Licensing Rights

Licensing rights refer to permissions granted by the owner of intellectual property (such as trademarks, patents, copyrights) to another party, allowing them to produce, sell, or use the property in specified ways.

Apparel Deal

An agreement or contract concerning the design, production, and/or distribution of clothing and accessories.

Rebranding

The process of changing a company's image, mission, or identity through a redesigned strategy, logo, and marketing materials to create a new perception.