Multiple Choice
NET Computers sold 20 modems for $60 on 30 April. At that date, the stock card for the modems sold had a total of 50 modems on hand at an average cost of $45.50 each. What is the cost of the modems recognised in the income statement? Assume the weighted average method of costing is used.
A) $910
B) $1 200
C) $2 275
D) $3 000
Correct Answer:
Verified
Correct Answer:
Verified
Q46: Which item should not be included in
Q47: Which statement relating to the moving average
Q48: Which of the following are reasons for
Q49: Which inventory valuation method gives the highest
Q50: Inventory is normally classified in the balance
Q51: In relation to inventory, net realisable value
Q53: The ratio that indicates an entity's overall
Q54: Hunter Coy sells calculators. At the beginning
Q55: The specific identification method of costing inventory
Q56: Assuming rising inventory prices, which statement is