Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a8-15 company uses the weighted average inventory

A8-15 Company uses the weighted average inventory costing method. The company had a beginning inventory...

50.1K

Verified Solution

Question

Accounting

image

A8-15 Company uses the weighted average inventory costing method. The company had a beginning inventory of 300 units that cost $12.00 each. Purchases were made throughout the year as follows: June : August: October: 700 units purchased at $12.50 per unit 1,000 units purchased at $12.80 per unit 500 units purchased at $13.00 per unit During the year, 1,800 units were sold to customers at a selling price of $15.00 each. Operating expenses for the year amounted to $1,000 and the income tax rate was 30%. The gross profit reported by A8-15 Company during the year was equal to: $4,050 $4,063 O $2,065 $3,212 $3,050 $5,804 $4,410 O $2,248 O $2,135 $2,950 O $4,212 $2,387 O $3,950 $3,410 $6,804

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

Chemistry
1.2K views

Why does the negative potential superimposed with an AC current allow Low mass particles to pass through...

General Management
1.2K views

What are some of the major differences between the American business culture and the French business...

Accounting
1.2K views

Plata Company produces two products: a mostly handcrafted soft leather briefcase sold under the label Maletin...

Algebra
1.2K views

What is the molarity of 0.15 L MgCl2 solution that contains 0.033 moles of MgCl2?1....

Algebra
1.2K views

10 Find the sum of the geometric series 8 5 k 1 O97656 O97640 O97668...

Accounting
1.2K views

You are given the following budgeted and actual data for the Grey Company for each...

Accounting
1.2K views

6.Moore Company reported the following operating results during its...

Accounting
1.2K views

ABC Inc. earned a gross profit of $340,000 on sales of $1,200,000 during the year....

Accounting
1.2K views

* MUCON 4 of 10 15 complete Use the quotient rule to find the derivative...

Accounting
1.2K views

Question 3 (2 marks each, totaling 20 marks) A company entered into the following transactions...

Accounting
1.2K views

The controller of the Red Wing Corporation is in the process of preparing the company's...

Finance
1.2K views

2) Mr. Thompson wants to receive a fixed monthly payment of $800 for 10 years...