Use the Following Information for Questions
Transactions for the Month

question 34

Multiple Choice

Use the following information for questions
Transactions for the month of June were: $$\begin{array} { r r r r r r } { \text { Purchases } } && { \text { Sales } } \\\hline \text { June } 1 & \text { (balance) } 800 @ \$ 3.20 & \text { June } 2 & 600 @ \$ 5.50 \\3 & 2,200 @ 3.10 & 6 & 1,600 @ 5.50 \\7 & 1,200 @ 3.30 & 9 & 1,000 @ 5.50 \\15 & 1,800 @ 3.40 & 10 & 400 @ 6.00 \\22 & 500 @ 3.50 & 18 & 1,400 @ 6.00 \\& & 25 & 200 @ 6.00\end{array}$$
-Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is

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Definitions:

Government-Mandated Safety Standards

Regulatory requirements set by the government to ensure products meet specified safety and efficacy benchmarks to protect consumers.

Credit Card Data Theft

The unauthorized access and retrieval of personal credit card information with the intent to commit fraud or theft.

Marketing Plan

A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements.

Secure Card

A payment card equipped with security features, such as an embedded chip, to protect against fraud and unauthorized transactions.