Use the Following Information for Questions

question 31

Multiple Choice

Use the following information for questions
-Assuming that Lock uses the perpetual inventory system, what should the inventory be at January 31, using the moving-average inventory method, rounded to the nearest dollar?

• A)$10,237
• B)$10,260
• C)$10,360
• D)$10,505

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Definitions:

Money Market Instruments

Financial instruments that provide liquidity and short-term financing in the money market, such as treasury bills, commercial paper, and certificates of deposit.

High-risk Securities

Financial instruments that offer a high potential return but also present a higher likelihood of loss.

Quick Resell

The act of selling an item or property soon after its purchase, typically to capitalize on market conditions or make a quick profit.

General Obligation Bond

A type of municipal bond backed by the credit and taxing power of the issuing jurisdiction rather than the revenue from a given project.