Lauer Corporation Uses the Periodic Inventory System and Has Provided

question 96

Multiple Choice

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: $\begin{array}{clrr}\text { Date }&\text { Transaction } &\text { Number of Units }&\text { Cost per Unit }\\\hline1 / 1 & \text { Beginning Inventory } & 100 & \$ 800 \\5 / 5 & \text { Purchase } & 200 & \$ 900 \\8 / 10 & \text { Purchase } & 300 & \$ 1,000 \\10 / 15 & \text { Purchase } & 200 & \$ 1,100\end{array}$ During the year, Lauer sold 750 laptop computers. What was ending inventory using the FIFO cost flow assumption?

• A) $60,000.
• B) $55,000.
• C)$45,000.
• D)$40,000.

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Definitions:

Workplace Communication

The exchange of information and ideas, both verbal and non-verbal, within an organizational setting.

Meeting Technologies

Tools and platforms that facilitate virtual or in-person meetings, including video conferencing software, collaborative workspaces, and presentation tools.

Parliamentary Procedure

A time-tested method for planning and running effective meetings; the best-known guide to this procedure is Robert’s Rules of Order.

Mobile Device

A portable computing device such as a smartphone or tablet that has wireless internet capabilities.