Clear Clarinets Has the Following Inventory Data Assuming That a Periodic Inventory System Is Used, What Is

question 50

Multiple Choice

Clear Clarinets has the following inventory data: $$\begin{array} { r l l } \text { July } 1 & \text { Beginning inventory } & 50 \text { units at } \$ 120 \\5 & \text { Purchases } & 300 \text { units at } \$ 112 \\14 & \text { Sale } & 200 \text { units } \\21 & \text { Purchases } & 150 \text { units at } \$ 115 \\30 & \text { Sale } & 140 \text { units }\end{array}$$ Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?

• A)$18,220
• B)$18,370
• C)$38,480
• D)$38,530

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Definitions:

Psychoanalytic

Pertaining to an approach in psychology which emphasizes the importance of unconscious mental processes and childhood experiences.

Emotional Stability-instability

Refers to the degree to which a person's mood and emotions remain constant or fluctuate over time.

Extraversion-introversion

A dimension of personality that refers to the tendency to be outgoing and energized by social interactions (extraversion) or to be solitary and energized by quiet reflection (introversion).

British Psychologists

Psychologists from the United Kingdom who contribute to the study and practice of psychology.