QUESTION $21$

Assuming that BMCC has $18$ units of inventory as of Jan $1,2025$ at a cost of $$9\mathrm{.}00$ per unit. Then, On January $3$rd purchased $15$ more units at a cost of $$10$ per unit and on January $5$ th purchased $10$ units at $$11$ per unit. On January $23$ rd$,2025,$ they sold $30$ units at a selling price of $$30$ per unit. Calculate Cost of Goods Sold $($COGS$),$ under Weighted Average.

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a$.$ cOGS$$305$

b$.$ COGS $$282$

c$.$ COGS$$294\mathrm{.}42$

d$.$ cogS$$900$

e$.$ None of the above

QUESTION $22$

BMCC Corp earned net credit sales of $$311,000$ in the full year $2024.$ Industry experience suggests that bad debts will amount to $3\%$ of net credit sales. At December $31,2024,$ accounts receivable total $$44,000.$ The company uses the allowance method to account for uncollectibles. What would be the journal entry to record Bad Debt Expense under the Percentage$-$of$-$Sales Method, assuming that the Allowance for Bad Debt Account has a Beginning credit balance of $$2,000?$

a$.$ Dr$.$ Allowance for Bad Debt $$9,330$; Cr$.$ Bad Debt Expense $$9,330$

b$.$ Dr$.$ Bad Debt Expense $$9,330$; Cr$.$ Allowance for Bad Debt $$9,330$

c$.$ Dr$.$ Allowance for Bad Debt $$7,330$; Cr$.$ Bad Debt Expense $$7,330$

d$.$ Dr$.$ Bad Debt Expense $$7,330$; Cr$.$ Allowance for Bad Debt $$7,330$

e$.$ None of the above

$q,$

QUESTION $23$

Under FOB Shipping point, the buyer pays for the freight.

a$.$ True

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b$.$ False