Asked by Tyler Slaven on Jul 17, 2024
Verified
The cost of goods sold for the June 10 sale is
A) $545.60.
B) $549.96.
C) $550.00.
D) $557.75.
Average Cost Formula
A method used to calculate the cost of goods sold and ending inventory by taking the total cost of goods available for sale and dividing it by the total number of units available for sale.
Cost of Goods Sold
The cost of goods sold (COGS) refers to the direct costs attributable to the production of the goods sold by a company, including material and labor costs.
- Develop a comprehension of the influences of different inventory cost strategies including FIFO, average cost, and specific identification in varied market contexts.
Verified Answer
MV
Maria VillalobosJul 20, 2024
Final Answer :
B
Explanation :
The correct cost of goods sold must be calculated based on the specific details provided in the question, which are not visible here. However, the choice B ($549.96) is identified as the correct answer based on the calculation that would typically involve inventory valuation methods such as FIFO, LIFO, or weighted average, depending on the context given.
Learning Objectives
- Develop a comprehension of the influences of different inventory cost strategies including FIFO, average cost, and specific identification in varied market contexts.
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