The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Petroni, Inc. for an operating period.Units Unit Cost Total CostUnits SoldBeginning Inventory50$124$6,200Sale No. 140Purchase No. 1Sale No. 2301003,00032Purchase No. 240883,520-Totals120$12,72072Assuming Petroni, Inc. uses weighted-average (perpetual) inventory procedures, the ending inventory cost is:Select one:OA. $4,992оB. $5,088OC. $4,512D. $4,368

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Description: The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Petroni, Inc. for an operating period.Units Unit Cost Total CostUnits SoldBeginning Inventory50$124$6,200Sale No. 140Purchase No. 1Sale No.

Under the perpetual inventory system, the inventory and the cost of goods sold records are updated…

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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Petroni, Inc. for an operating period. Beginning Inventory Units Unit Cost Total Cost Units Sold 50 $124 $6,200 Sale No. 1 40 Purchase No. 1 Sale No. 2 Purchase No. 2 30 100 3,000 32 40 88 Totals 120 ཐཱ། 3.520 $12,720 - 72 Assuming Petroni, Inc. uses weighted-average (perpetual) inventory procedures, the ending inventory cost is: Select one: O A. $4,992 0 B. $5,088 O C. $4,512 o D. $4,368

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Petroni, Inc. for an operating period. Beginning Inventory Units Unit Cost Total Cost Units Sold 50 $124 $6,200 Sale No. 1 40 Purchase No. 1 Sale No. 2 Purchase No. 2 30 100 3,000 32 40 88 Totals 120 ཐཱ། 3.520 $12,720 - 72 Assuming Petroni, Inc. uses weighted-average (perpetual) inventory procedures, the ending inventory cost is: Select one: O A. $4,992 0 B. $5,088 O C. $4,512 o D. $4,368

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 10PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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