Use the following information to answer Questions below
The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of McKensie Company for an operating period.

-Assuming McKensie Company uses weighted-average (perpetual) inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for:
A) $2,544
B) $2,550
C) $2,560
D) $2,640
E) None of the above

Question

Use the following information to answer Questions below
The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of McKensie Company for an operating period. 
 
-Assuming McKensie Company uses weighted-average (perpetual) inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for:
A) $2,544 
B) $2,550 
C) $2,560 
D) $2,640 
E) None of the above

Quizplus · Accepted Answer

Weighted-average cost = $2,544 ($10,176 ÷ 4)Sale no. 2 = 1,000 units × $2,544 = $2,544

Use the Following Information to Answer Questions Below