Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the beginning inventory for proknows ltd. consiste

The beginning inventory for ProKnows Ltd. consisted of 20 units at $4 each. During March,...

80.2K

Verified Solution

Question

Accounting

The beginning inventory for ProKnows Ltd. consisted of 20 units at $4 each. During March, 40 more units of inventory were purchased for $5 each, and during May, an additional 40 units were purchased for $6 each. A total of 70 units of inventory were sold during the year. Under the weighted average cost flow assumption, O ending inventory = 30 units x $5.00 per unit = $150 O ending inventory = 70 units x $5.20 per unit = $364 cost of goods sold = 70 units x $5.20 per unit = $364 O cost of goods sold = 70 units x $5.00 per unit = $350
image
image
abumplion cott at goods sold = 70 unta $920 per una $304 Mavine

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