A Company Just Starting Business Made the Following Four Inventory

question 124

Multiple Choice

A company just starting business made the following four inventory purchases in June: $$\begin{array} { r r r r } \text { June } & 1 & 150 \text { units } & ¥ 5,200 \\\text { June } & 10 & 200 \text { units } & 7,800 \\\text { June } & 15 & 200 \text { units } & 8,400 \\\text { June } & 28 & 150 \text { units } & \underline{6,600} \\& & & \underline { ¥ 28,000 }\end{array}$$ A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand.Using the average-cost method, the amount allocated to the ending inventory on June 30 is

• A) \( ¥ 28,000 \).
• B) \( ¥ 20,000 \).
• C) \( ¥ 7,670 \).
• D) \( ¥ 8,000 \).

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Definitions:

Carrier

An individual or entity engaged in the business of transporting goods or passengers for hire.

Specific Performance

A legal remedy that compels a party to execute a contract according to the precise terms agreed upon.

Unique Goods

Items or products that are distinct due to their rarity, design, or special features that make them uncommon in the marketplace.

UCC

The Uniform Commercial Code, an extensive framework of rules that regulate commercial activities across the United States.