Use the Following Information for Questions Below
a Company Had

question 20

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during June:
$\begin{array}{lrrr}&{\text { Units }}& {\text { Unit Cost }} & {\text { Total Cost }}\\\hline&450 & \$ 9.50 & \$ 4,275\\Beginning~ inventory~ Purchases:\\~~~~~~~~~~~June ~5&1,500 & 10.00 & 15,000 \\~~~~~~~~~~~June ~13&900 & 10.25 & 9,225 \\Sales:\\~~~~~~~~~~~June~ 8&1,100 & & \\~~~~~~~~~~~June~ 24&600 & &\end{array}$
-If the company is using a weighted-average cost formula and a periodic system,what is the ending inventory closest to?

• A)$11,925
• B)$11,415
• C)$11,500
• D)$11,585

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Definitions:

Stock Subscription

Stock subscription refers to the process of offering new shares to existing or potential investors, often before the public offering.

Treasury Stock

Shares that were issued and subsequently reacquired by the issuing company, reducing the amount of outstanding stock.

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares.

Market Price

The current price at which an asset or service can be bought or sold on the open market.