Question: Assume Smart Touch Learning had 8 tablets in its beginning inventory, each with a cost of $220. On January 3, Smart Touch Learning purchased 9

Assume Smart Touch Learning had 8 tablets in its beginning inventory, each with a cost of $220. On January 3, Smart Touch Learning purchased 9 tablets at a cost of $314 each, and on January 10 Smart Touch Learning purchased another 4 tablets at $326 each. On January 20, the company sold 4 tablets to a customer. If the company is using the weighted-average method, what is the company's cost of goods sold for January under a periodic inventory system? (Round intermediary calculations to the nearest cent and your final answer to the nearest dollar.) . . O A. $1,256 O B. $1,122 O C. $1,271 O D. $880

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Assume Smart Touch Learning had 3 tablets in its beginning inventory, each with a cost of $300. On January 3, Smart Touch Learning purchased 4 tablets at a cost of $310 each. On January 10, Smart...

Review the video to help you answer the following question. Assume Smart Touch Learning had 6 tablets in its beginning inventory, each with a cost of $210. On January 5, Smart Touch Learning...

Assume Smart Touch Learning had 12 tablets in its beginning inventory, each with a cost of $280. On January 3, Smart Touch Learning purchased 13 tablets at a cost of $313 each, and on January 10...

Review the video to help you answer the following question. K Assume Smart Touch Learning had 6 tablets in its beginning inventory, each with a cost of $270. On January 3, Smart Touch Learning...

Assume Smart Touch Learning had 10 tablets in its beginning inventory, each with a cost of $260. On January 3, Smart Touch learning purchased 11 tabulets at a cost of $313 each, and on January 10...

Assume Smart Touch Learning had 3 tablets in its beginning inventory, each with a cost of $300. On January 3, Smart Touch Learning purchased 4 tablets at a cost of $310 each. On January 10, Smart...

Assume Smart Touch Learning had 3 tablets in its beginning inventory, each with a cost of $300. on January 3, Smart Touch learning purchased 4 tablets at a cost of $310 each. on January 10, Smart...

Review the video to help you answer the following question Assume Smart Touch Learning had 3 tablets in its beginning inventory, each with a cost of $300 On January 3, Smart Touch Learning purchased...

Assume Smart Touch Learning had 12 tablets in its beginning inventory, each with a cost of $200. On January 3, Smart Touch Learning purchased 13 tablets at a cost of $320 each. On January 10, Smart...

Review the video to help you answer the following question. Assume Smart Touch Learning had 7 tablets in its beginning inventory, each with a cost of $250. On January 5, Smart Touch Learning...

Smith industry makes 30,000 yards of fabric per day of which 12,000 are A grade, 9,000 B grade and the rest are C grade fabric. The industry manufactures 84%, 61% and 38% of the raw materials of A, B...

A 16-inch radius well draws water from a confined aquifer at the rate of 1,570 gpm. The confined aquifer is 100 feet thick with a piezometric surface (before pumping) that is, 350 feet above the...

Based on the following Fama French 5 factor model results, which statement is false? Coefficient P - value Intercept - 0 . 0 6 0 . 0 1 9 Mkt _ rf 1 . 3 4

2. The force of interest 8 is a function of time and at any time t, measured in years, is given by the formula: 8(t) = 0.02 +0.0020 8(t) = 0.03 +0.005t Osts5 5 st s 10 a) Calculate the discount...