Given the following information,determine the cost of goods sold at December 31 using the Weighted Average perpetual inventory method.
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit
December 15: 20 units were purchased at $10.15 per unit
December 22: 18 units were sold at $35 per unit
A)$282.15
B)$332.10
C)$281.25
D)$290.70
E)$210.30

Question

Quizplus · Accepted Answer

Weighted Average Cost = (5 x $7) + (10 x $9.40) + (20 x $10.15) / (5 + 10 + 20) = $9.65Cost of Goods Sold = 12 units x $9.65 + 18 units x $9.65 = $282.15

Given the Following Information,determine the Cost of Goods Sold at December