Sigman Co's Inventories in Process Were at the Following Stages of of Completion

question 52

Multiple Choice

Sigman Co.'s inventories in process were at the following stages of completion at April 30:
$\begin{array}{|c|c|}\hline \text { No. of Units } & \text { Percent Complete } \\\hline 100 & 90 \\\hline 50 & 80 \\\hline 200 & 10 \\\hline\end{array}$

Equivalent units of production in ending inventory amounted to: (CPA adapted)

• A) 150.
• B) 180.
• C) 330.
• D) 350.

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, allowing it to own assets, incur liabilities, and conduct business in its name.

General Partnership

A type of business partnership where all partners share management responsibilities and are equally liable for business debts and obligations.

Pooled Talents

The combining of skills, knowledge, and abilities from multiple individuals or teams to achieve a common goal.

Chapter 11 Bankruptcy

A type of bankruptcy that focuses on restructuring a debtor's business operations, liabilities, and assets, known by the designation of chapter 11 in the U.S. bankruptcy code.