Given the Following Information,determine the Cost of Goods Sold at December

question 184

Multiple Choice

Given the following information,determine the cost of goods sold at December 31 using the Weighted Average periodic inventory method.
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit
December 15: 20 units were purchased at $10.15 per unit
December 22: 18 units were sold at $35 per unit

• A)$282.15
• B)$332.10
• C)$284.70
• D)$290.70
• E)$210.30

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Definitions:

Raw Materials

Raw materials are the basic, unprocessed inputs that are used in the manufacturing process to produce finished goods.

Factory Overhead Rate

A rate used to assign or allocate factory overhead costs to individual units of production, usually based on a standard measure such as labor hours or machine hours.

Direct Labor Cost

The total of all wages paid to employees who are directly involved in the production of goods or services.

Internal Stakeholders

Individuals or groups within an organization who are directly impacted by its actions, decisions, and outcomes, such as employees, managers, and owners.