Find the Inventory Values Using (A) the Weighted-Average Method, (B)

question 9

Multiple Choice

Find the inventory values using (a) the weighted-average method, (b) the FIFO method, and (c) the LIFO method. Round final answers to the nearest dollar.
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• A)(a)$1,506 (b)$840 (c)$1,545
• B)(a)$1,039 (b)$1,065 (c)$826
• C)(a)$1,045 (b)$1,065 (c)$826
• D)(a)$1,045 (b)$826 (c)$1,065

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Definitions:

Chi-square Distribution

A probability distribution that is used to describe the distribution of a sum of the squares of k independent standard normal random variables, often used in hypothesis testing.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the values differ from the mean.

Sample Variance

A statistical measure of the dispersion or variance within a sample data set.

Confidence Interval

A span of figures, sourced from the statistics of a sample, with a high probability of encompassing an undetermined population attribute.