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:

Top Managers

Individuals at the highest level of an organization's management who have the day-to-day responsibilities of running the company and setting strategic goals.

Team Members

Individuals who are part of a group working together towards a common goal or project, each contributing their unique skills and efforts.

Interpersonal Relations

The connections and interactions between individuals in a social or professional context.

Group Dynamics

The study of the behaviors and psychological processes that occur within a social group.