Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units.
Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the
company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. The cost of ending inventory using weighted-average is _______________.Question 27 options:
| $114,750 |
| $157,600 |
| $122,400 |
| $109,650 |
| None of the above |
SaveQuestion 28 (1 point)
Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. The cost of goods sold using weighted-average is _______________.Question 28 options:
| $147,200 |
| $160,350 |
| $155,250 |
| $114,000 |
| None of the above |
SaveQuestion 29 (1 point)
During a period of rising prices, which inventory method might be expected to give the highest net income?Question 29 options:
| Weighted-average |
| FIFO |
| LIFO |
| Specific identification |
| Cannot determine |
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