Kentucky purchases and sells widgets. The following information summarizes Kentucky's operating activities for 2015: $$\begin{array} { | l | r | }
\hline \text { Selling and Administrative Expenses } & \$ 4,500 \
\hline \text { Purchases } & 157,000 \
\hline \text { Sales Revenue } & 785,000 \
\hline \text { Merchandise Inventory, January 1, 2015 } & 38,250 \
\hline \text { Merchandise Inventory, December 31, 2015 } & 79,000 \
\hline
\end{array}$$ If Kentucky sold 7,500 units of widgets during 2015, how much is the cost for one widget?
A) $50.00
B) $15.50
C) $26.36
D) $16.10

Question

Kentucky purchases and sells widgets. The following information summarizes Kentucky's operating activities for 2015: $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 4,500 \
\hline \text { Purchases } & 157,000 \
\hline \text { Sales Revenue } & 785,000 \
\hline \text { Merchandise Inventory, January 1, 2015 } & 38,250 \
\hline \text { Merchandise Inventory, December 31, 2015 } & 79,000 \
\hline
\end{array}$$ If Kentucky sold 7,500 units of widgets during 2015, how much is the cost for one widget?
A) $50.00
B) $15.50
C) $26.36
D) $16.10

Quizplus · Accepted Answer

The Answer of Kentucky purchases and sells widgets. The following information summarizes Kentucky's operating activities for 2015: $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 4,500 \
\hline \text { Purchases } & 157,000 \
\hline \text { Sales Revenue } & 785,000 \
\hline \text { Merchandise Inventory, January 1, 2015 } & 38,250 \
\hline \text { Merchandise Inventory, December 31, 2015 } & 79,000 \
\hline
\end{array}$$ If Kentucky sold 7,500 units of widgets during 2015, how much is the cost for one widget?
A) $50.00
B) $15.50
C) $26.36
D) $16.10

Kentucky Purchases and Sells Widgets If Kentucky Sold 7,500 Units of Widgets During 2015, How