1a. Consider the following information maintained by a retail entity that maintains a perpetual inventory system and uses the weighted average method.

What is the per unit cost that the company will use to value the cost of goods sold for the July 9th sale of 200 units of inventory? If applicable, round your answers to 3 decimal places.

Group of answer choices

$20.00

$8.20

$8.125

$8.240

$8.225

$8.269

$8.233

1b. Consider a manufacturer who uses job-order costing and employs a team of sales associates. 6 hours of idle time was incurred in total by 3 sales associates who were traveling together to deliver a presentation to a potential client and while en route ended up stuck in traffic for 2 hours. True or False: the cost of this idle time would be expensed in the period incurred under the normal accrual accounting rules.

Answer Choices:

True

False

Date Unit Price Quantity Extended Beg. Balance 1-Jul $8.10 200 $1,620 July Purchases: 1 2-Jul $8.15 200 $1,630 25-Jul - $8.25 200 $1,650 3 8-Jul $8.30 200 $1,660 4 13-Jul $8.40 200 $1,680 July Customer Sales: Date 1 13-Jul 29-Jul 3 15-Jul Unit Price Quantity Extended $20.00 200 $4,000 $20.00 200 $4.000 $20.00 200 $4,000