A Company Had the Following Purchases and Sales During Its

question 19

Multiple Choice

A company had the following purchases and sales during its first year of operations: $$\begin{array} { | l | l | l | } \hline & \text { Purchases } & \text { Sales } \\\hline \text { January: } & 10 \text { units at } \$ 120 & 6 \text { units } \\\hline \text { February: } & 20 \text { units at } \$ 125 & 5 \text { units } \\\hline \text { May: } & 15 \text { units at } \$ 130 & 9 \text { units } \\\hline \text { September: } & 12 \text { units at } \$ 135 & 8 \text { units } \\\hline \text { November: } & 10 \text { units at } \$ 140 & 13 \text { units } \\\hline\end{array}$$ On December 31, there were 26 units remaining in ending inventory. Using the Periodic FIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

• A)$3,405.
• B)$3,270.
• C)$3,200.
• D)$3,445.
• E)$3,540.

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Definitions:

Insignificant T-statistics

A situation in statistical hypothesis testing where the t-statistic value suggests that there is no significant difference between group means or that a parameter is not significantly different from zero.

Independent Variables

In an experiment or model, these are the elements that are either manipulated or categorized to observe their impact on dependent variables.

Multiple Regression Analysis

A statistical technique that uses several independent variables to predict the outcome of a dependent variable.

Independent Variables

Variables that are manipulated or categorized to determine their effect on dependent variables in an experiment or study.