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27 October, 15:51

The weighted-average cost method is used by Jose, Inc. Sales are $240,000, the number of units available for sale is 100, the number of units sold during the period is 75, and the weighted-average cost of the goods available for sale is $600 each. How much is gross profit for the company?

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  1. 27 October, 16:54
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    The correct answer is $195,000.

    Explanation:

    According to the scenario, the given data are as follows:

    Sales = $240,000

    Units available = 100

    Units sold = 75

    Weighted-average cost of the goods = $600

    So, we can calculate the gross profit for the company by using following formula:

    Gross profit = Sales - cost of goods sold

    By putting the value, we get

    Gross profit = $240,000 - ($600 * 75)

    = $240,000 - $45,000

    = $195,000
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Home » Business » The weighted-average cost method is used by Jose, Inc. Sales are $240,000, the number of units available for sale is 100, the number of units sold during the period is 75, and the weighted-average cost of the goods available for sale is $600 each.
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