NET Computers Sold 20 Modems for $60 on 30 April

question 52

Multiple Choice

NET Computers sold 20 modems for $60 on 30 April. At that date, the stock card for the modems sold had a total of 50 modems on hand at an average cost of $45.50 each. What is the cost of the modems recognised in the income statement? Assume the weighted average method of costing is used.

• A) $910
• B) $1 200
• C) $2 275
• D) $3 000

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Definitions:

Storage Devices

Hardware components used to store digital data, such as hard drives, SSDs, USB flash drives, and memory cards.

KeyTip

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A hardware device consisting of a layout of buttons (keys), used for inputting data, commands, or text into a computer or similar device.

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