Smith & Sons sells old clocks. The company had the follow transactions: April 1, Beginning...
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Accounting
Smith & Sons sells old clocks. The company had the follow transactions:
April 1, Beginning Inventory: 20 clocks @ $100 each = $2,000 April 10, Purchase: 10 clocks @ $125 each = $1,250 April 20, Purchase: 10 clocks @ $120 each = $1,200 April 25, Sales of inventory 25 clocks @ $500 Calculate the companys cost of goods sold using weighted-average cost.
Select one:
$3,750.75
$2,875.00
$2,625.00
$2,781.25
$2,950.00
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