The following amounts and costs of platters were available for sale by Cari Ceramics during 2016:
Cari Ceramics has 60 platters on hand at the end of the year.
How much is cost of goods sold in dollars at the end of the year according to the average cost method?
A) $ 9,920
B) $ 4,960
C) $ 6,200
D) $11,500

Question

The following amounts and costs of platters were available for sale by Cari Ceramics during 2016:
 Cari Ceramics has 60 platters on hand at the end of the year.
How much is cost of goods sold in dollars at the end of the year according to the average cost method?
A) $ 9,920 
B) $ 4,960 
C) $ 6,200 
D) $11,500

Quizplus · Accepted Answer

(10 units × $164) + (15 units × $220) + (30 units × $280) + (25 units × $260) = $19,840
$19,840 / 80 units = $248.00
(10 + 15 + 30 + 25 units) - 60 units = 20 units sold
20 units × $248 = $4,960

The Following Amounts and Costs of Platters Were Available for Sale