Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 26)-- 26) marquis company uses a weighted-average

26)-- 26) Marquis Company uses a weighted-average perpetual inventory system and has the following purchases...

60.1K

Verified Solution

Question

Accounting

image
26)-- 26) Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 August 18 August 29 26 units were purchased at $7 per unit. 31 units were purchased at $9 per unit. 28 units were sold. What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) A) S202.50 B) S461.00 C) $200.00 D) $279.00 E) S226.52 7) Grays Company has inventory of 13 units at a cost of $8 each on August 1. On August 27) 3, it purchased 23 units at $11 each. 15 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 15 units that were sold? A) $149. B) $130. C) $132. D) $195. E) S126.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Calculate the future value of an? annuity, with case A being an ordinary annuity and case...

Chemistry
1.2K views

Calculate E∘cell for each of the following balanced redox reactions. Are the reactions spontanous? A) 2Cu(s)+Mn2+(aq)→2Cu+(aq)+Mn(s) B) MnO2(s)+4H+(aq)+Zn(s)→Mn2+(aq)+2H2O(l)+Zn2+(aq) C)...

Psychology
1.2K views

1) In what ways have you noticed that #MeToo has changed people’s awareness of gender violence? 2)...

Advance Math
1.2K views

6) (8 pts, 4 pts each) State the order of each ODE, then classify each of...

Accounting
1.2K views

During Heaton Company’s first two years of operations, it reported absorption costing net operating income as follows: Year...

Physics
1.2K views

In the arrangement of capacitors shown in Fig 3 63 the capacitors are initially uncharged...

Geometry
1.2K views

B 1 point A circle has a circumference of 28 centimeters If an arc subtends...

Basic Math
1.2K views

Let f(x) be a polynomial function.One of the zeros of f (x) is -2. What...

Basic Math
1.2K views

A sample of a radioactive isotope had an initial mass of 540 mg in the...

Algebra
1.2K views

6 When graphed the line y 14 would not intersect the graph of which of...

Finance
1.2K views

Tinney & Smyth Inc. is considering the purchase of a new batch polymer-bonding machine for...

Finance
1.2K views

A project is expected to create operating cash flows of $73,000 per year for eight...