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larisa86 [58]
3 years ago
7

Cinnamon Corp. started business in 2007, uses a periodic inventory system and uses the weighted average cost method. During 2007

, it purchased 75,000 units of inventory at €12 each and sold 30,000 units for €20 each. In 2008, it purchased another 35,000 units at €14 each and sold 38,000 units for €22 each. Its 2008 cost of sales (€ thousands) was closest to:
Business
1 answer:
Nesterboy [21]3 years ago
3 0

Answer:

€4,883,000

Explanation:

The computation of cost of sales is shown below:-

Inventory = 35,000 ÷ €12

= 2,917 units

Weighted average cost of inventory

= (2,917 × €12) + (35,000 × €14)

=  €35,004 + €490,000

= €525,004

So weighted average cost = €525,004 ÷ €40,833.33

= €12.85

So, cost of sales = weighted average cost × sold units

= €12.85 × 38,000

= €4,883,000

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EA11.
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Answer:

Predetermined rates for each cost pool

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                    240,000 orders

                = $0.50 per order

Machine set-up = <u>$85,000</u>

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                  = $1 per inspection                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Explanation:

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