The weighted-average cost method isused by Mendez, Inc. Sales are $80,000,the number of units available for sale is100, the number of units sold during theperiod is 75, and the weighted averagecost of the goods available for sale is$200 each.How much is gross profit for thecompany?

To calculate the gross profit for Mendez, Inc. using the weighted-average cost method, follow these…

Answered: The weighted-average cost method is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The weighted-average cost method is used by Mendez, Inc. Sales are $80,000, the number of units available for sale is 100, the number of units sold during the period is 75, and the weighted average cost of the goods available for sale is $200 each. How much is gross profit for the company?