Clear Clarinets Has the Following Inventory Data Assuming That a Periodic Inventory System Is Used What Is

question 182

Multiple Choice

Clear Clarinets has the following inventory data: $$\begin{array} { r l l } \text { July } 1 & \text { Beginning inventory } & 50 \text { units at } \$ 120 \\5 & \text { Purchases } & 300 \text { units at } \$ 112 \\14 & \text { Sale } & 200 \text { units } \\21 & \text { Purchases } & 150 \text { units at } \$ 115 \\30 & \text { Sale } & 140 \text { units }\end{array}$$ Assuming that a periodic inventory system is used what is the amount allocated to ending inventory on a FIFO basis?

• A)$18220
• B)$18370
• C)$38480
• D)$38530

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Definitions:

Classical Conditioning

A learning process through which associations are made between a natural stimulus and a neutral stimulus to elicit a behavior.

Observation

The action or process of closely monitoring or watching something or someone carefully in order to gain information.

Operant Behavior

Operant behavior involves actions that are controlled by their consequences, a concept fundamental to operant conditioning theories in psychology.

Environmental Conditions

The physical and biological factors along with their chemical interactions that affect an organism or a group of organisms.