Harlow Corp

question 124

Multiple Choice

Harlow Corp.uses a FIFO process costing system.Beginning inventory for January consisted of 1,000 units that were 60% completed.During January,9,500 units were started and completed.On January 31,the inventory consisted of 500 units that were 70% completed.How many units were started during January?

• A)9,850
• B)10,000
• C)10,250
• D)11,000

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Definitions:

Angular Unconformity

A geological feature where newer layers of sediment or rock rest upon older layers that have been tilted or folded, indicating a significant change in depositional environments.

Rocks Folded

refers to the bending and curving of rock layers under pressure, without the layers breaking.

Flat-lying Layers

Horizontal strata of sedimentary rock that have not been significantly tilted or disturbed since their deposition.

Disconformity

An unconformity in which the bedding planes above and below the break are essentially parallel, but the unconformity surface records erosion or some other interruption in the deposition of layers.