Monarch Company Uses a Weighted-Average Perpetual Inventory System and Has

Multiple Choice

Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales: $\begin{array}{|l|l|}\hline \text { January 1 } & 20 \text { units were purchased at } \$ 10 \text { per unit. } \\\hline \text { January 12 } & 12 \text { units were sold. } \\\hline \text { January 20 } & 18 \text { units were purchased at } \$ 11 \text { per unit. } \\\hline\end{array}$ What is the value of cost of goods sold?

A) $272.
B) $126.
C) $120.
D) $278.
E) $398.