Eneri Company's Inventory Records Show the Following Data A Physical Inventory on December 31 Shows 4,000 Units on Units

question 38

Multiple Choice

Eneri Company's inventory records show the following data: $\begin{array}{lcrr}&\text { Units }&\text { Unit Cost }\\\text { Inventory, January 1 } & 10,000 & \$ 9.20 \\\text { Purchases: } \text { June 18 } & 9,000 & 8.00 \\ \text { November 8 } & 6,000 & 7.00\end{array}$ A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. Under the FIFO method, the December 31 inventory is valued at

• A) $28,000.
• B) $32,267.
• C) $32,960.
• D) $36,800.

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Definitions:

Organizations

Entities or groups of people structured and coordinated to pursue collective goals or carry out specific activities.

Team Work

The collaborative effort of a group to achieve a common goal or task in the most effective and efficient way.

Groupthink

A psychological phenomenon wherein the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.

Consensus Prematurely

Reaching an agreement or decision before all aspects and perspectives of an issue have been fully explored or debated.