Use the Following Information for Questions:
a Company Had the Following

question 61

Multiple Choice

Use the following information for questions:
A company had the following inventory activity during May: $\begin{array}{lrrrr}&\text { Units}&\text { Unit Cost }&\text {Total Cost }&\text { Unit Price }\\\hline\text { Beginning inventory } & 100 & \$ 20.00 & \$ 2,000 & \\\text { Purchase: May 3 } & 900 & \$ 21.00 & 18,900 & \\\text { Sale: May 5 } & (900) & & & \$ 30.00 \\\text { Purchase: May 15 } & 1,000 & \$ 21.00 & 21,000 & \\\text { Sale: } & (900) & & & \$ 30.00\end{array}$
-If the company uses a perpetual system and the FIFO cost flow assumption, what is the gross margin for the month closest to:

• A)$12,100
• B)$16,200
• C)$16,300
• D)$17.100

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Definitions:

Vestibulocochlear Nerve

The eighth cranial nerve responsible for transmitting sound and equilibrium (balance) information from the inner ear to the brain.

Vestibular Neurons

Neurons that convey information from the vestibular system, which is involved in balance and spatial orientation.

Cerebrum

The largest part of the brain, consisting of the right and left hemispheres, responsible for voluntary activities and higher functions like thought and action.

Crista Ampullaris

A sensory organ located within the ampulla of each semicircular duct in the inner ear, detecting rotation of the head.