Uno Ltd Uses a Periodic Inventories System and Rounds the Average

question 14

Multiple Choice

Uno Ltd uses a periodic inventories system and rounds the average unit cost to the nearest dollar. The following data relates to Uno Ltd for the year ended 30 June 2014.

The cost of goods sold for the year using the weighted average method is:

• A) $1528.
• B) $1734.
• C) $1425.
• D) $1984.

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Definitions:

M

A symbol often representing money supply in economic discussions, including various measures like M1, M2, and M3.

Q

Quantity, frequently used in economic equations and discussions to denote the amount of goods produced or consumed.

PQ

The product of price (P) and quantity (Q), often used in economics to calculate total revenue or expenditure.

P

Typically refers to "Price" in economic models, representing the monetary value assigned to a good or service in the market.