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Swifty Company uses the perpetual inventory system and the moving-average method to value inventories. On August 1, there were 10000 units valued at $20000 in the beginning inventory. On August 10, 10000 units were purchased for $5.00 per unit. On August 15, 15000 units were sold for $12 per unit. The amount charged to cost of goods sold on August 15 was O $50000. O $20000. O $62500. O $52500.

Swifty Company uses the perpetual inventory system and the moving-average method to value inventories. On August 1, there were 10000 units valued at $20000 in the beginning inventory. On August 10, 10000 units were purchased for $5.00 per unit. On August 15, 15000 units were sold for $12 per unit. The amount charged to cost of goods sold on August 15 was O $50000. O $20000. O $62500. O $52500.

Intermediate Accounting: Reporting And Analysis
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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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irrent Attemptin Progress Swifty Company uses the perpetual inventory system and the moving-average method to value inventories. On August 1, there were 10000 units valued at $20000 in the beginning inventory. On August 10, 10000 units were purchased for $5.00 per unit. On August 15, 15000 units were sold for $12 per unit The amount charged to cost of goods sold on August 15 was O $50000. O $20000. O $62500. O $52500.
Transcribed Image Text:irrent Attemptin Progress Swifty Company uses the perpetual inventory system and the moving-average method to value inventories. On August 1, there were 10000 units valued at $20000 in the beginning inventory. On August 10, 10000 units were purchased for $5.00 per unit. On August 15, 15000 units were sold for $12 per unit The amount charged to cost of goods sold on August 15 was O $50000. O $20000. O $62500. O $52500.
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