Portey Company
Portey uses a perpetual inventory system and had the following inventory transactions for the month of June.

- Refer to the information provided for Portey. If Portey uses the weighted average inventory costing method, cost of goods sold for the month of June is:
A) $1,935.00.
B) $1,917.18.
C) $1,901.00.
D) $1,930.69.

Question

Portey Company 
Portey uses a perpetual inventory system and had the following inventory transactions for the month of June.

-  Refer to the information provided for Portey. If Portey uses the weighted average inventory costing method, cost of goods sold for the month of June is:
A) $1,935.00. 
B) $1,917.18. 
C) $1,901.00. 
D) $1,930.69.

Quizplus · Accepted Answer

The weighted average cost per unit is calculated by dividing the total cost of goods available for sale by the total units available for sale. This cost is then multiplied by the number of units sold to determine the cost of goods sold.

Portey Company Portey Uses a Perpetual Inventory System and Had the Following