Holliday Company's inventory records show the following data: A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for ₤3 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. The weighted-average cost per unit is
A) ₤1.88.
B) ₤2.00.
C) ₤2.04.
D) ₤2.19.

Question

Holliday Company's inventory records show the following data:  A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for ₤3 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. The weighted-average cost per unit is
A) ₤1.88. 
B) ₤2.00. 
C) ₤2.04. 
D) ₤2.19.

Quizplus · Accepted Answer

The Answer of Holliday Company's inventory records show the following data:  A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for ₤3 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. The weighted-average cost per unit is
A) ₤1.88. 
B) ₤2.00. 
C) ₤2.04. 
D) ₤2.19.

Holliday Company's Inventory Records Show the Following Data: a Physical