Maki Company Has the Following Data Available If Maki Company Uses a Perpetual FIFO Inventory System, the c

question 24

Multiple Choice

Maki Company has the following data available: $$\begin{array} { l c c c } \text { Transaction } & \text { Units Purchased } & \text { Unit Cost } & \text { Units Sold } \\\text { Beginning Inventory } & 750 & \$ 32 & \\\text { Oct. 1 Purchase } & 325 & 35 & \\\text { Oct. 10 Sale } & & & 425 \\\text { Oct. 14 Purchase } & 450 & 36 & \\\text { Oct. 20 Sale } & & & 600 \\\text { Oct. 22 Purchase } & 400 & 38 & \\\text { Oct. 29 Sale } & & & 525\end{array}$$
If Maki Company uses a perpetual FIFO inventory system, the cost of ending inventory on October 31 is ________.

• A) $15,200
• B) $14,250
• C) $51,575
• D) $52,525

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Definitions:

Triceps Brachii

A major muscle of the upper arm responsible for extension of the forearm at the elbow joint.

Forearm

The region of the arm between the elbow and the wrist, consisting of two bones (radius and ulna) and various muscles, nerves, and blood vessels.

Ulna

One of the two long bones in the forearm, extending from the elbow to the smallest finger, and playing a role in arm movement and stability.

Biceps Brachii

A muscle of the upper arm that acts to flex the elbow and rotate the forearm.