Kentucky, Inc. purchases and sells widgets. The following information summarizes

Question

Kentucky, Inc. purchases and sells widgets. The following information summarizes the company's operating activities for the year: If the company sold 7,000 units of widgets during the year, how much is the cost for one widget? (Round your answer to the nearest cent.) $5.300 156,000 783.000 2.300 38,800 Selling and Administrative Expenses Purchases ales Revenue lerchandise Inventory. January 1 ferchandise Inventory December 31 Minimized View 522.29 517.07 $22.61 D. $5.87 r Previous SHp L Sr & Next

Explanation / Answer

Answer is B. $ 17.07 Cost per unit of each widget Inventory in the beginning 2300 Add: Purchases 156000 Total Goods available for sale 158300 Less: Ending Inventory 38800 Total cost of Goods sold 119500 Divide: Number of units 7000 Cost per unit of widget 17.07143

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