Answered

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The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 410 units at $5 each on January 1. Xu purchases 445
units at $4 each in February and 145 units at $6 each in March. There were no additional purchases or sales during the remainder of the quarter.
Xu sells 260 units during the quarter. If Xu uses the weighted average method, what is its cost of goods sold for the first quarter? (Do not round
intermediate calculations. Round your final answer to the nearest dollar amount.)
Multiple Choice

$1,560
$1,040
$1,300
$1,222

Sagot :

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