Tully Sales uses a periodic inventory system with the weighted average method of cost assignment. The following
Fantastic news! We've Found the answer you've been seeking!
Question:
Date
Jan. 6 Beginning inventory
400
Purchase
800
Purchase 1000
2200
Sale 1400
Closing inventory
800
Units Unit cost
$
$5.50
$6.50
$8.00
The cost of sales for January is: (calculate your answer to the nearest whole dollar).
O $7000.
O $8 000.
O $9 800.
O $15 400.
Related Book For
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
Posted Date: