Use the Information Above to Answer the Following Question

question 11

Multiple Choice

Use the information above to answer the following question.If the company uses the FIFO costing method,what is the cost of its ending inventory?

• A)$1,494.
• B)$2,290.
• C)$2,580.
• D)$2,706.

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Definitions:

Inelastic

Refers to a situation where the demand or supply for a good or service is not significantly altered by changes in price.

Concerts

Public performances of music by artists in front of an audience.

Relative Change

A metric that measures how much a particular quantity has changed over time relative to the initial amount.

Inelastic

A characteristic of a good or service whose demand or supply is relatively unresponsive to changes in price.