The Following Data Applies to a Particular Item of Merchandise

question 51

Multiple Choice

The following data applies to a particular item of merchandise: $\begin{array}{lrr}\text { On hand at start of period } & 300 & \$ 5.10 \\1^{\text {st }} \text { purchase } & 500 & 5.20 \\2^{\text {ndd }} \text { purchase } & 700 & 5.30 \\3^{\text {rd }} \text { purchase } & 600 & 5.50\\\text { Number of units available for sale } & 2,100 \\\text { On hand at end of period } & \underline{500} \\\text { Number of units sold during period } & \underline{1,600}\end{array}$ ? Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first purchase; 600 from the second purchase; and 200 from the last purchase. Using the weighted-average costing method and rounding the average unit cost to the nearest whole cent, the value of the inventory on hand at the end of the period would be

• A) $2,650.
• B) $2,750.
• C) $2,730.
• D) $2,530.

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Definitions:

Superomedial Corner

A term often used in anatomy to describe the upper and inner corner of a structure or organ.

Sty

Inflamed ciliary gland of the eye.

Sebum

An oily substance produced by the sebaceous glands that helps moisturize and protect the skin.

Lysozyme

An enzyme that breaks down the cell walls of bacteria, found in saliva, tears, and other secretions, contributing to the body's immune defense.