Crabapples Inc purchases and sells boxes of dried fruit The

Crabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its operating acivities for the year Selling Expenses Merchandise Inventory on December 31 Merchandise Inventory on January 1 Purchases of merchandise Rent for store Sales comnissions Sales revenue S9,600 32,000 46,100 85,000 12,200 7,400 167,500 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.) OA. $8.00 O B. $24.78 O C. $41.88 O D. $32.78

Solution

COST PER BOX = $99,100/4,000 = $24.78

MERCHANDISE INVENTORY ON JANUARY 1	$46,100
PURCHASES OF MERCHANDISE	$85,000
MERCHANDISE INVENTORY ON DECEMBER 31	($32,000)
COST OF GOODS SOLD	$99,100