A company had the following purchases and sales during its first month of operations: January 1Purchased 10 units at $4.00 per unitJanuary 9Sold 6 units at $12.00 per unitJanuary 17Purchased 8 units at $5.50 per unitJanuary 27Sold 7 units at $12.00 per unit Using the perpetual weighted average method, what is the value of cost of goods sold? (Round weighted average costs per unit to 2 decimal places.)
A. $59.00.
B. $25.00.
C. $24.00.
D. $23.35.
E. $40.00.
Answer: A
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Indicate whether the statement is true or false