Use the Following Information to Answer Questions 6-8

question 67

Multiple Choice

Use the following information to answer questions 6-8.
Barton Company uses a periodic inventory system. On January 1, 2014, Barton Company had 1,200 units of inventory on hand at a cost of $8 per unit. During 2014, Barton made the following inventory purchases. Assume Barton Company sold 2,300 units of inventory during 2014.
-If you assume that Barton follows IFRS and uses the FIFO method, what is the ending inventory and cost of goods sold, respectively?

• A) Ending inventory = $11,600; Cost of Goods Sold = $31,800
• B) Ending inventory = $16,520; Cost of Goods Sold = $26,880
• C) Ending inventory = $16,422; Cost of Goods Sold = $26,978
• D) Ending inventory = $20,600; Cost of Goods Sold = $22,800

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Definitions:

Competing Moral Rights

Competing moral rights refer to situations where two or more ethical or moral principles conflict, making it challenging to determine the right course of action.

Limited Freedom

A situation or condition wherein an individual's autonomy is restricted by laws, norms, or societal constraints in certain areas for various reasons.

Socially Acceptable Behavior

Actions and conduct that are considered appropriate and respectable by societal norms and expectations.

Moral Perspectives

Views or angles from which moral judgment and considerations are analyzed, reflecting diverse ethical theories or principles.