Like New Express Had 400 Multi-Function Centers Machines in Stock

question 67

Multiple Choice

Like New Express had 400 multi-function centers machines in stock at the end of the year. Inventory records for the year are as follows: Using the average cost method of inventory pricing calculate the dollar value of the ending inventory.

• A) $69,200.00
• B) $79,200.00
• C) $77,547.00
• D) $85,650.00

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Definitions:

Unitary Elastic

A situation where the percentage change in quantity demanded is equal to the percentage change in price, indicating a proportional relationship.

Video Games

Electronic games that involve user interaction with a user interface to generate visual feedback on a two- or three-dimensional video display device such as a TV screen, computer monitor, or handheld device.

Inferior Good

A type of good whose demand decreases as the consumer's income increases, contrasting with normal goods where demand increases with income.

Income

The financial gain received by an individual or a business, typically measured over a specific time period.