Koontz Company uses the perpetual inventory method and the weighted-average method. On January 1, Year 1, the company's first day of operations, Koontz purchased 400 units of inventory that cost $7.50 each. On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $9.00 each. If the company sells 550 units of inventory, what is the amount of inventory that would appear on the balance sheet immediately following the sale?
A. $3,713
B. $3,080
C. $3,780
D. $4,738
Answer: C
You might also like to view...
What type of customers are most likely known as "customer terrorists"?
A) customers who use their bargaining powers to purchase products at a cheaper price B) customers who engage in shoplifting C) customers who verbally communicate their bad experiences to others D) customers who show a false sense of loyalty to a particular brand E) customers who only buy the product if it is offered at an attractive price or with a promotional incentive
If partnership debt is reduced and a partner is deemed to receive a cash distribution, what impact does the deemed distribution have on the partner if it is in excess of her tax basis?
A. The partner will not ever be taxed on the distribution in excess of her basis. B. The partner will treat the distribution in excess of her basis as ordinary income. C. The partner will not be taxed on the distribution in excess of her basis until she sells her partnership interest. D. The partner will treat the distribution in excess of her basis as capital gain.
Nonverbal behaviors play important roles in relational communication. Which one of the following communicates intimacy, attraction, trust, caring, dominance, persuasiveness, and aggressiveness?
A. Touching D. Smiling B. Proximity E. Grabbing C. Eye contact
Siva has noticed a problem with his team that he manages. He has come up with a theory to explain the problem. He then tests his theory with independent and dependent variables. Siva has used what to help his critical thinking process?
a. Leadership b. The scientific method c. Evidence-based management d. The open systems theory