Millibrand Co Uses a Periodic Inventory System with the Specific

question 25

Multiple Choice

Millibrand Co uses a periodic inventory system with the specific identification method of cost assignment.
Date Units Unit cost
$
Beginning inventory July 1 1000 9
Purchase 12 2000 11
Purchase 26 1000 12
On 27 July 500 units from beginning inventory and 1000 units from the 12 July purchase were sold. What was the value of ending inventory at 31 July?

• A) $20 500
• B) $23 000
• C) $27 500
• D) $28 500

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Definitions:

Scapula

The technical term for the shoulder blade, a flat triangular bone located on the posterior side of the ribcage that connects the humerus (upper arm bone) with the clavicle (collarbone).

Levator Scapulae

A muscle located in the neck and back that elevates the scapula (shoulder blade).

Serratus Anterior

A muscle on the side of the chest that helps rotate the arm and move it away from the body.

Pectoralis Minor

A thin, triangular muscle located beneath the Pectoralis Major in the chest, involved in functions like scapula downward rotation, depression, and anterior tilt.