Solve the Problem

question 17

Multiple Choice

Solve the problem.
-Over a year period, a hardware store made the following purchases of hammers: 24 hammers at $6.89, 30 hammers at $6.08, 36 hammers at $4.69, and 26 hammers at $8.05. Inventory at the end of the year shows 35 hammers remain. Find the inventory value by (a) weighted average method, (b) FIFO Method, and (c) LIFO Method. Round final answers to the nearest cent

• A)(a)$188.48
• (b)$241.15
• (c)$219.10
• B)(a)$224.96 (b)$232.24
• (c)$281.75
• C)(a)$219.10 (b)$232.24
• (c)$251.51
• D)(a)$219.10 (b)$251.51
• (c)$232.24

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Definitions:

Ambiguity

The quality of being open to more than one interpretation; lack of definiteness or certainty.

Channel Choice

The selection of a medium through which to communicate a message, such as email, face-to-face, social media, or traditional mail, based on factors like urgency, formality, and audience preference.

Chronological Dimensions

The arrangement or ordering of events in the order in which they occurred in time.

Cultural Dimensions

The aspects of culture that influence people's values, behaviors, and communication styles, often used in comparative studies of different societies.