138 Assuming That a Perpetual Inventory System Is Used, What Is

question 61

Multiple Choice

138. Pappy's Staff has the following inventory information. $\begin{array}{rll}\text { July }1 & \text { Beginning Inventory } & 20 \text { units at } \$ 90 \\5 & \text { Purchases } & 120 \text { units at } \$ 92 \\14 & \text { Sale } & 80 \text { units } \\21 & \text { Purchases } & 60 \text { units at } \$ 95 \\30 & \text { Sale } & 56 \text { units }\end{array}$ Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

• A) $5,848
• B) $5,860
• C) $6,068
• D) $6,346

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Definitions:

Sex Chromosomes

Chromosomes that determine the genetic sex of an organism, typically denoted as XX for females and XY for males in many species.

Gonads

The primary reproductive organs in animals, which in males are the testes and in females are the ovaries, responsible for producing gametes and hormones.

Sexual Development

The process of physical and emotional changes that occur as a person matures sexually, including puberty and sexual identity formation.

Sex Glands

Organs that produce sex hormones and gametes; for males, this refers to the testes, and for females, the ovaries.