Dobler Company Uses a Periodic Inventory System

question 172

Multiple Choice

Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows: An end of the month (1/31/2014) inventory showed that 160 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month?

• A) $1,188
• B) $1,212
• C) $2,400
• D) $1,600

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Definitions:

Antebrachium

Refers to the forearm, the region of the arm between the elbow and the wrist.

Radius

One of the two large bones of the forearm, positioned on the lateral side (thumb side) of the forearm.

Ulna

One of the two long bones in the forearm, located on the side opposite to the thumb.

Tibia

The larger and stronger of the two bones in the lower leg, also known as the shinbone, primarily responsible for bearing weight.