Use this information to answer the following question. Oct. 1 Inventory 200 units @ $12.00 6 Purchase 300 units @ $13.20 13 Purchase 100 units @ $14.40 20 Purchase 200 units @ $15.60 25 Purchase 40 units @ $16.80 Total sales 620 units A periodic inventory system is used. Using the specific identification method and assuming that 50 of the items left are from the October 13 purchase and the rest
are from the October 20 purchase, the cost assigned to ending inventory is
A) $3,840.
B) $3,312.
C) $3,372.
D) $3,176.
C
You might also like to view...
Merchandise Inventory is what type of account?
A. Contra-Asset B. Liability C. Expense D. Asset
Which of the following courses of action is best suited for a company in the event of the entry of
a new competitor to the market? A) re -estimating sales forecast B) repositioning its existing product C) arranging for a backup partner D) conducting competitive analysis
Possessive nouns can show all? of the following except ______
A) origin B) active voice C) ownership D) ?authorship
A stock dividend differs from a stock split because in a stock split, the par value of the company's
stock is reduced, while the par value remains the same after a stock dividend is paid. Indicate whether the statement is true or false