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

question 140

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 65 units at $6 per unit
2) Purchased 130 units at $6 per unit
3) Sold 110 units at $12 per unit
4) Purchased 60 units at $7 per unit
5) Sold 110 units at $13.25 per unit
At the end of the year,the company counted the inventory and found 35 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) $6
• B) $218
• C) $1,590
• D) $1,372

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Definitions:

Neurotransmitters

Substances that carry signals from one neuron to another across a synapse in the nervous system.

Opiate Drugs

A category of drugs derived from opium plants, often used for pain relief but associated with high addiction potential.

Receptor Sites

Specific regions on the surface of a cell or within a cell where messenger molecules, such as hormones or neurotransmitters, bind to initiate a cellular response.

Endorphins

Natural, pain-relieving chemicals produced by the body that promote a feeling of well-being or euphoria.