Consider the Following Inventory Transactions for September: for the Month

question 59

Multiple Choice

Consider the following inventory transactions for September: For the month of September,the company sold 35 units.What is cost of good sold under the weighted-average cost method (round the weighted-average unit cost to four decimals if necessary) ?

• A)$121.
• B)$116.
• C)$124.
• D)$131.

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Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be consumed by many people without depleting and without preventing others from consuming it.

Nonrival

A good or service is nonrival if its consumption by one individual does not reduce its availability to others.

Nonexcludable

A characteristic of public goods: Once a good is produced, no one can be excluded from enjoying its benefits.

Marginal Social Benefit

The additional gain to society as a whole from consuming or producing one more unit of a good or service.