Table 6-6 Sam's Wholesale Bikes -Refer to Table 6-6

question 127

Multiple Choice

Table 6-6 Sam's Wholesale Bikes $\begin{array} { | l | l | } \hline \text { January } 1 \text { inventory balance } & 15 \text { units at } \$ 350 \text { per unit } \\\hline \text { January } 4 \text { purchase } & 50 \text { units at } \$ 375 \text { per unit } \\\hline \text { January } 15 \text { sale } & 40 \text { units at } \$ 550 \text { per unit } \\\hline \text { February } 8 \text { purchase } & 80 \text { units at } \$ 405 \text { per unit } \\\hline \text { February } 15 \text { sale } & 70 \text { units at } \$ 550 \text { per unit } \\\hline\end{array}$
-Refer to Table 6-6. What is the value of the February ending inventory assuming that Sam's uses the periodic FIFO inventory method?

• A)$7,500
• B)$17,500
• C)$14,175
• D)$15,875

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Definitions:

Material Class

A grouping of individuals based on their economic position in society, often determined by their access to resources and wealth.

Conflict Theorists

refer to sociologists who emphasize the role of power and coercion in producing social order.

Power

The power to shape or control the conduct of individuals and the flow of occurrences.

Inequality

The uneven distribution of resources, opportunities, and rights among people, leading to social disparities and discrimination.