Holliday Company's Inventory Records Show the Following Data A Physical Inventory on December 31 Shows 2,000 Units on Units

question 22

Multiple Choice

Holliday Company's inventory records show the following data:
$\begin{array}{lrr}&\text { Units }&\text { Unit Cost }\\\text { Inventory, January } 1 & 5,000 & £ 4.50 \\\text { Purchases: June 18 } & 4,500 & 4.00 \\\text { November } 8 & 3,000 & 3.50\end{array}$

A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $£ 6$ each. The company has an effective tax rate of $20 \%$ . Holliday uses the periodic inventory method. The weighted-average cost per unit is

• A)\( £3.75\).
• B) \( £ 4.00 \).
• C) \( £ 4.08 \).
• D) \( £ 4.38 \).

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Definitions:

Genetic Drift

Genetic drift is a mechanism of evolution that leads to random changes in the gene pool of a population, often having significant effects in small populations.

New Colony

A newly established population or community, often referring to organisms in a new habitat or to humans in a new settlement.

Genotype Frequency

The proportion of various genetic constitutions within a population, important in the study of population genetics.

Phenotype Frequency

The ratio of individuals possessing a particular phenotype to the total population size, often used in genetic and population studies.