Noise Makers Inc A Physical Count of Merchandise Inventory on July 31 Reveals

question 25

Multiple Choice

Noise Makers Inc.has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 30 \text { units at } \$ 19 & \$ 570 \\7 & \text { Purchases } & 105 \text { units at } \$ 20 & 2,100 \\22 & \text { Purchases } & 15 \text { units at } \$ 22 &330\\&&&\$3,000\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 48 units on hand.Using the average cost method the value of ending inventory is

• A)$930.
• B)$960.
• C)$976.
• D)$990.

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Definitions:

Hydrogen

The simplest and lightest element, with one proton and one electron, often used in fuel cells and as a potential clean energy source.

Fuel Efficiency

The measure of how far a vehicle can travel on a certain amount of fuel.

Geothermal Energy

Energy derived from the natural heat of the earth, harnessed for heating, electricity production, and other uses.

Hydrogen Sulphide Gas

A toxic, flammable gas with the foul odor of rotten eggs, produced during the decay of organic matter in the absence of oxygen.