Chess Top Uses the Periodic Inventory System

question 24

Multiple Choice

Chess Top uses the periodic inventory system.For the current month, the beginning inventory consisted of 200 units that cost $65 each.During the month, the company made two purchases: 300 units at $68 each and 150 units at $70 each.Chess Top also sold 500 units during the month.Using the average cost method, what is the amount of ending inventory?

• A)$10,500.
• B)$33,770.
• C)$33,400.
• D)$10,131.

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Definitions:

Cardi/o

A prefix in medical terminology referring to the heart.

Mammography

A diagnostic procedure using low-dose X-rays to examine the human breast for signs of cancer or other abnormalities.

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A prefix related to the breasts or mammary glands, often used in medical terms.

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