Use the Following Information for the Following Questions:
the Following

question 85

Multiple Choice

Use the following information for the following questions:
The following information was available from the inventory records of Key Company for January:
$$\begin{array} { c l l l } & \text { Units } & \text { Unit Cost } & \text { Total Cost } \\\text { Balance at January } 1 & 3,000 & \mathbf { \$ 9 . 7 7 } & \mathbf { \$ 2 9 , 3 1 0 } \\\text { Purchase: } & & & \\\text { January } 6 & 2,000 & 10.30 & \mathbf { 2 0 , 6 0 0 } \\\text { January } 26 & 2,700 & 10.71 & \mathbf { 2 8 , 9 1 7 } \\\text { sales: } & & & \\\text { January } 7 & ( 2,500 ) & & \\\quad \text { January } 31 &\underline{( 4,200 ) } & &\\\text { Balance at January } &\underline{1,000}&& \end{array}$$
-Assuming that Key uses the perpetual inventory system, what should the inventory be at January 31, using the moving-average inventory method, rounded to the nearest dollar?

• A) $10,237
• B) $10,260
• C) $10,360
• D) $10,505

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Definitions:

Geert Hofstede

A Dutch social psychologist known for his work on the comparison of cultures across nations, particularly for developing the cultural dimensions theory.

Intercultural Competence

The ability to communicate sensitively with people from other cultures and countries, based on an understanding of cultural differences.

Cross-cultural Reliability

The extent to which the findings or measurements of a study can be applied or are consistent across different cultures or cultural contexts.

Personal Space

The distance someone wants between him- or herself and other people in ordinary, nonintimate interchanges.