Use the Following Information for Questions

question 70

Multiple Choice

Use the following information for questions.
A company just starting its business made the following four inventory purchases in June: On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system.
-Using the average cost formula, the cost of the ending inventory on June 30 is

• A) $670.00.
• B) $690.50.
• C) $1,645.55.
• D) $1,675.00.

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Definitions:

Physiological Needs

Basic physical requirements for human survival, such as food, water, and shelter.

Security Needs

The requirement for physical and emotional safety and stability, considered a fundamental human need driving behavior and decision-making.

Relative Pay

Comparison of the compensation package of one employee to those of others within the same organization or industry.

Internal Equity

Refers to the fairness and consistency in pay structures for employees within the same company, ensuring equitable compensation for similar roles and responsibilities.