Table 6-5
Assume the Following Data for Kruger Sales for November

question 104

Essay

Table 6-5
Assume the following data for Kruger Sales for November 2019: $\begin{array}{ll}\text { Beginning inventory Nov. } 1 & 5 \text { units at } \$ 90 \text { each } \\\text { Sale Nov. } 3 & 3 \text { units at } \$ 120 \text { each } \\\text { Nov. } 6 \text { purchase } & 11 \text { units at } \$ 95 \text { each } \\\text { Sale Nov. } 8 & 4 \text { units at } \$ 120 \text { each } \\\text { Sale Nov. } 9 & 3 \text { units at } \$ 120 \text { each }\end{array}$
On November 30, a physical count reveals 6 units on hand.
-Refer to Table 6-5. Calculate ending inventory for Kruger Sales assuming the periodic FIFO cost method is being used.

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Definitions:

Excess Capacity

A situation where a firm is operating below its maximum production capability and can produce more with the existing resources.

Physical And Human Capital

Assets including machinery, buildings (physical capital) and the skills, knowledge, and experience possessed by an individual or population (human capital).

Excess Capacity

A situation where a firm is producing at a lower scale of output than it has been built to handle, due to insufficient demand.

Product Diversity

The variety of different items within a particular category available to consumers in the market.