A company uses a perpetual inventory system.On May 1,beginning inventory consists of 10 items at a cost of $10 each.On May 3,10 items are purchased at $12 each.On May 8,12 items are sold.On May 15,10 items are purchased at $14 each.Using the weighted average cost,cost of goods sold for the month ended May 31 is:
A)$230.40.
B)$132.00.
C)$228.00.
D)$144.00.

Question

Quizplus · Accepted Answer

The Answer of A company uses a perpetual inventory system.On May 1,beginning inventory consists of 10 items at a cost of $10 each.On May 3,10 items are purchased at $12 each.On May 8,12 items are sold.On May 15,10 items are purchased at $14 each.Using the weighted average cost,cost of goods sold for the month ended May 31 is:
A)$230.40.
B)$132.00.
C)$228.00.
D)$144.00.

A Company Uses a Perpetual Inventory System