During January 2019, Marta Company, which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: Units Unit Cost Bal. 1/1/19 Purchased on 1/4/19 Sold on 1/20/18 Purchased on 1/25/18 Under the moving average method, what amount should Metro report as Cost of Sales on January 31, 1,000 600 @ 40 120 900 400 @ 200

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During January 2019, Marta Company, which maintains a perpetual inventory system, recorded the
following information pertaining to its inventory:
Units
Unit Cost
Bal. 1/1/19
Purchased on 1/4/19
Sold on 1/20/18
Purchased on 1/25/18
Under the moving average method, what amount should Metro report as Cost of Sales on January
1,000
40
600 @
120
900
400 @
200
31,
Transcribed Image Text:During January 2019, Marta Company, which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: Units Unit Cost Bal. 1/1/19 Purchased on 1/4/19 Sold on 1/20/18 Purchased on 1/25/18 Under the moving average method, what amount should Metro report as Cost of Sales on January 1,000 40 600 @ 120 900 400 @ 200 31,
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