In February, its first month of operations, a retailer made the following inventory purchases. Purchased...
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Accounting
In February, its first month of operations, a retailer made the following inventory purchases. Purchased 350 units at $9 each on Feb. 1. Purchased 250 units for the total cost of $2,325 on Feb. 10. Purchased 100 units at $10 each on Feb. 28. On Feb. 15, there were 400 units sold. The retailer used a perpetual inventory system. Using the weighted average cost formula, the cost of goods sold for the February 15 sale was:
Select one: a. $3,713
b. $3,650
c. $3,829
d. $3,501
e. $3,497
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