Table 6-2 On December 31, a Physical Count Reveals 80 Units in
\hline

question 40

Multiple Choice

Table 6-2 $\begin{array} { | l | l | } \hline \text { Manuary } 1 \text { inventory balance } & 100 \text { units at } \$ 10 \text { per unit } \\\hline \text { March } 2 \text { purchase } & 50 \text { units at } \$ 11 \text { per unit } \\\hline \text { July } 8 \text { purchase } & 80 \text { units at } \$ 10 \text { per unit } \\\hline \text { November } 15 \text { purchase } & 30 \text { units at } \$ 12 \text { per unit } \\\hline\end{array}$ On December 31, a physical count reveals 80 units in ending inventory.
-Referring to Table 6-2, the cost of ending inventory using the periodic FIFO method would be:

• A)$1,910.
• B)$860.
• C)$800.
• D)$850.

---

Definitions:

Average IQ

A statistical measure that represents a person's cognitive abilities in relation to the population average, with the population average set at a score of 100.

Broad Average

A general or wide-ranging statistical measure that represents the typical value of a set of numbers or quantities.

IQ Score

An IQ score is a standardized measure of human intelligence and cognitive abilities, based on a series of tests that compare individual performance to age-group norms.

Binet-Simon Scale

Historically significant intelligence test developed by Alfred Binet and Théodore Simon, serving as a basis for modern IQ testing by measuring various cognitive abilities.