Use the Following Information for Questions Below
a Company Had

question 33

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during April:
$$\begin{array}{l}\text { }\\\begin{array} { l l l l l} &&\text {units }&\text { unit cost}&\text { total cost}\\\text { beginning}&\text {inventory }&800&\$10.00&\$8,000\\\text { purchase}&\text {april 6 }&1,400&11.00&15,400\\\text {sale }&\text {april }&(1,500) \\\text {purchase }&\text {april 17}&900&10.50&9,450\\\text {sale }&\text {april 24 }&(900) \\\end{array}\end{array}$$
-If the company is using a perpetual system and the FIFO cost formula,what is the ending inventory closest to?

• A)$7,100
• B)$7,350
• C)$7,650
• D)$7,920

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Definitions:

Household Incomes

The total income earned by all members of a household, encompassing all financial sources.

Annual Income

The total amount of money earned or received in a year from employment, investments, or other sources before taxes and deductions.

Symmetrical

Symmetrical refers to an object or design that is evenly proportioned and balanced in size and shape on both sides.

Bell-shaped Distribution

A graphical representation of data where most values cluster around a central region, with fewer and fewer appearing as one moves away towards the extremes; commonly known as a normal distribution.