Lux Company uses a periodic inventory system. The company started the month with 20 lamps in its
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Lux Company uses a periodic inventory system. The company started the month with 20 lamps in its beginning inventory that cost $30 each. During the month, Lux purchased an additional 80 lamps for $31 each. At the end of the month, Lux counted her inventory and discovered that there were 25 unsold lamps left.
If Lux uses the weighted average cost method, what will be the cost of goods sold for the month ?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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