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 Shetland Co

Accounting

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 Shetland Co. has the following data related to an item of inventory: Inventory, March 1 400 units @ $2.10 Purchase. March 7 1,400 units @ $2.20 Purchase, March 16 280 units @ $225 Sale, March 23 1,560 units @ $5.25 Inventory, March 31 520 units The value assigned to cost of goods sold if Shetland uses weighted average is: O $16,380 $2.278 56.812 O $3.416 Question 18 3 pts Marmot Corporation uses the periodic inventory and the gross methods. On March 1, it purchased $50,000 of inventory, terms 2/10, 1/30. On March 3, Marmot returned goods that cost $5,000. On March 9. Marmot paid the supplier. On March 9, Marmot should credit o purchase discounts for 5900 O inventory for $900 o inventory for $1.000 None of these are correct O purchase discounts for $1.000