Problem: Dell gives you the following information: Beginning inventory: 10 units at $5.00 each Purchased: 10 units at $7.00 each 5 units at $16.00 each The company had 7 units in ending inventory at the end of the month. Assuming the company uses a periodic weighted average method, what is the company’s Cost of Goods Sold? a. $56 b. $70 c. $130 d. $144

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Problem Details

Dell gives you the following information:

Beginning inventory: 10 units at $5.00 each

Purchased: 10 units at $7.00 each

5 units at $16.00 each

The company had 7 units in ending inventory at the end of the month. Assuming the company uses a periodic weighted average method, what is the company’s Cost of Goods Sold?

a. $56

b. $70

c. $130

d. $144

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What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Periodic Inventory - FIFO, LIFO, and Average Cost concept. You can view video lessons to learn Periodic Inventory - FIFO, LIFO, and Average Cost. Or if you need more Periodic Inventory - FIFO, LIFO, and Average Cost practice, you can also practice Periodic Inventory - FIFO, LIFO, and Average Cost practice problems.

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Based on our data, we think this problem is relevant for Professor All Professors' class at USF.