Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 24 units were purchased at $23 per unit. August 18, 40 units were purchased at $25 per unit. August 29, 34 units were sold. What was the amount of the cost of goods sold for this sale? rev: 10_23_2013_QC_37882, 10_30_2013_QC_37882, 11_01_2013_QC_37882 Multiple Choice $952.00 $1,552.00 $1,000.00

Question

Zachariah Miranda

Business

2 September, 11:24

Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 24 units were purchased at $23 per unit. August 18, 40 units were purchased at $25 per unit. August 29, 34 units were sold. What was the amount of the cost of goods sold for this sale? rev: 10_23_2013_QC_37882, 10_30_2013_QC_37882, 11_01_2013_QC_37882 Multiple Choice $952.00 $1,552.00 $1,000.00

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Keshawn · Answer 1

Cost of goods sold = $816

Explanation:

Giving the following information:

Acme-Jones Corporation uses a weighted-average perpetual inventory system.

August 2: 24 units were purchased at $23 per unit.

August 18: 40 units were purchased at $25 per unit.

On August 29: 34 units were sold.

Weighted-average = (23 + 25) / 2 = $24

Cost of goods sold = 34*24 = $816