Mathematics · Accounting Aptitude
Inventory movements for product X during the last quarter were as follows: Opening inventory at 1 January: 6 items valued at $15 each. January: Purchases of 10 items at $19.80 each. February: Sales of 10 items at $30 each. March: Purchases of 20 items at $24.50 each, and Sales of 5 items at $30 each. What was the gross profit for the quarter if inventory is valued using the continuous weighted average cost method?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$175
- 2$165
- 3$145
- 4$155✓
Correct answer
$155
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