Meanmocha Hardware has a periodic inventory system and uses the weighted average method. The company began the month of November with 150 large brass switch plates on hand at a cost of $4.00 each. These switch plates sell for $7.00 each. The following schedule sets forth the purchases of switch plates during November: If Meanmocha sells 570 switch plates for $7.00 each during November, what is the company's gross profit for November (rounded to the nearest dollar)?
A) $1,046.
B) $1,482.
C) $1,516.
D) $1,528.

Question

Meanmocha Hardware has a periodic inventory system and uses the weighted average method. The company began the month of November with 150 large brass switch plates on hand at a cost of $4.00 each. These switch plates sell for $7.00 each. The following schedule sets forth the purchases of switch plates during November:  If Meanmocha sells 570 switch plates for $7.00 each during November, what is the company's gross profit for November (rounded to the nearest dollar)?
A) $1,046. 
B) $1,482. 
C) $1,516. 
D) $1,528.

Quizplus · Accepted Answer

The Answer of Meanmocha Hardware has a periodic inventory system and uses the weighted average method. The company began the month of November with 150 large brass switch plates on hand at a cost of $4.00 each. These switch plates sell for $7.00 each. The following schedule sets forth the purchases of switch plates during November:  If Meanmocha sells 570 switch plates for $7.00 each during November, what is the company's gross profit for November (rounded to the nearest dollar)?
A) $1,046. 
B) $1,482. 
C) $1,516. 
D) $1,528.

Meanmocha Hardware Has a Periodic Inventory System and Uses the Weighted