Question

Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 24 units were purchased at $23 per unit. August 18, 40 units were purchased at $25 per unit. August 29, 34 units were sold. What was the amount of the cost of goods sold for this sale? rev: 10_23_2013_QC_37882, 10_30_2013_QC_37882, 11_01_2013_QC_37882 Multiple Choice $952.00 $1,552.00 $1,000.00

Answer 1

Answer:

Cost of goods sold= $816

Explanation:

Giving the following information:

Acme-Jones Corporation uses a weighted-average perpetual inventory system.

August 2: 24 units were purchased at $23 per unit.

August 18: 40 units were purchased at $25 per unit.

On August 29: 34 units were sold.

Weighted-average= (23 + 25)/2= $24

Cost of goods sold= 34*24= $816