Crabapples, Inc purchases and sells boxes of dried fruit
The following information summarizes its operating activities for the year:
Selling Expenses $10,000
Merchandise Inventory on December 31 32,000
Merchandise Inventory on January 1 46,000
Purchases of merchandise 82,500
Rent for store 12,700
Sales commissions 7,100
Sales revenue 168,000
What is the cost per box of dry fruits if Crabapples sold 4,000 boxes of dry fruit during the year? (Round your answer to the nearest cent.)
A) $8.00
B) $42.00
C) $32.13
D) $24.13
D .D)
Merchandise Inventory on January 1, 2017 $46,000
Purchases of Merchandise 82,500
Merchandise Inventory on December 31, 2017 (32,000 )
Cost of Goods Sold $96,500
Cost per box = $96,500 / 4,000 boxes = $24.13
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