Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimals)
A) $16,733.
B) $17,408.
C) $16,713.
D) $16,089.
Answer: $16,713.
The company reports cost of goods sold of $16,000. Which inventory cost method is the company using?
A) FIFO.
B) LIFO.
C) Weighted-average.
D) The answer cannot be determined with the information given.
Answer: FIFO.
What is the cost of goods sold for Julia & Company assuming it uses LIFO?
A) $125.
B) $100.
C) $110.
D) $85.
Answer: $110.
