Use the Following Information for the Month of June for Questions

question 19

Multiple Choice

Use the following information for the month of June for questions.
XYZ Inc. uses the average cost formula in a perpetual inventory system.
(Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.) Jun 22 Sale 40 units
-XYZ Inc. has an ending inventory on June 30 of

• A) $1,370.00.
• B) $1,418.56.
• C) $1,429.90.
• D) $1,450.15.

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of quantities.

Point Estimate

A single value estimate of a population parameter that serves as the best guess or prediction of the parameter.

Confidence Limits

Confidence limits define the range within which a population parameter is estimated to lie with a certain level of confidence.

Standard Error

A measure of the dispersion or spread of sample means around the population mean.