Hardware Inc.has a periodic inventory system and uses the weighted average method.The company began the year with 150 large brass switch plates on hand at a cost of $4.00 each.Purchases of switch plates during the year were as follows:

The switch plates sell for $7.00 each.If Hardware sells 570 switch plates during the year,what is the company's cost of goods sold?
A) $3,990
B) $2,508
C) $2,480
D) $2,560

Question

Hardware Inc.has a periodic inventory system and uses the weighted average method.The company began the year with 150 large brass switch plates on hand at a cost of $4.00 each.Purchases of switch plates during the year were as follows:

The switch plates sell for $7.00 each.If Hardware sells 570 switch plates during the year,what is the company's cost of goods sold?

The switch plates sell for $7.00 each.If Hardware sells 570 switch plates during the year,what is the company's cost of goods sold?
A) $3,990 
B) $2,508 
C) $2,480 
D) $2,560

Quizplus · Accepted Answer

The Answer of Hardware Inc.has a periodic inventory system and uses the weighted average method.The company began the year with 150 large brass switch plates on hand at a cost of $4.00 each.Purchases of switch plates during the year were as follows:

The switch plates sell for $7.00 each.If Hardware sells 570 switch plates during the year,what is the company's cost of goods sold?
A) $3,990 
B) $2,508 
C) $2,480 
D) $2,560