7.The following data pertain to a particular item sold by Pomegranate Company. 8/1 – Beg. invy: 2,000 @ P50=100,000 8/8 – Purchases: 9,000 @ P52=468,000 8/10 – Sales: 1,500 @ P105=157,500 8/14 – Purchases: 3,000 @ P55=165,000 8/20 – Sales: 8,000 @ P110=880,000 8/29 – Purchases: 1,500 @t P59=88,500 Using the weighted average method, how much is the gross profit during the month of August? a. 503,500 b. 534,000 c. 553,000 d. 318,000
7.The following data pertain to a particular item sold by Pomegranate Company. 8/1 – Beg. invy: 2,000 @ P50=100,000 8/8 – Purchases: 9,000 @ P52=468,000 8/10 – Sales: 1,500 @ P105=157,500 8/14 – Purchases: 3,000 @ P55=165,000 8/20 – Sales: 8,000 @ P110=880,000 8/29 – Purchases: 1,500 @t P59=88,500 Using the weighted average method, how much is the gross profit during the month of August? a. 503,500 b. 534,000 c. 553,000 d. 318,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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17.The following data pertain to a particular item sold by Pomegranate Company.
8/1 – Beg. invy: 2,000 @ P50=100,000
8/8 – Purchases: 9,000 @ P52=468,000
8/10 – Sales: 1,500 @ P105=157,500
8/14 – Purchases: 3,000 @ P55=165,000
8/20 – Sales: 8,000 @ P110=880,000
8/29 – Purchases: 1,500 @t P59=88,500
Using the weighted average method, how much is the gross profit during the month of August?
8/1 – Beg. invy: 2,000 @ P50=100,000
8/8 – Purchases: 9,000 @ P52=468,000
8/10 – Sales: 1,500 @ P105=157,500
8/14 – Purchases: 3,000 @ P55=165,000
8/20 – Sales: 8,000 @ P110=880,000
8/29 – Purchases: 1,500 @t P59=88,500
Using the weighted average method, how much is the gross profit during the month of August?
a. 503,500
b. 534,000
c. 553,000
d. 318,000
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