Dobler Company Uses a Periodic Inventory System An End of the Month (1/31/2017) Inventory Showed That 240

question 126

Multiple Choice

Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: $\begin{array}{llrr}&\text { Units }&\text { Per unit price }&\text { Total }\\\text { Balance, } 1 / 1 / 2017 & 300 & \$ 5.00 & \$ 1.500 \\\text { Purchase, } 1 / 15 / 2017 & 150 & 5.30 & 795 \\\text { Purchase, } 1 / 28 / 2017 & 150 & 5.50 & 825\end{array}$ An end of the month (1/31/2017) inventory showed that 240 units were on hand. How many units did the company sell during January 2017?

• A)90
• B)240
• C)300
• D)360

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Definitions:

Performance Report

A document or tool that evaluates and details the performance of an entity, project, or employee against expected or predefined objectives.

Activity Variances

Differences between planned activity levels and actual activity levels, often analyzed in managerial accounting to control costs.

Customers Served

The number or segment of consumers who have been provided with products or services by a business within a specific timeframe.

Planning Budget

A budget created using the expected output and efficiency at the beginning of the budget period, without any adjustments for actual activity levels.