Fulbright Corp

question 58

Multiple Choice

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition) : 40 units at $100
70 units at $80
170 units at $60
Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.
-
Ending inventory using the FIFO method is:

• A) $650.
• B) $1,000.
• C) $707.
• D) $600.

---

Definitions:

Service Time Distribution

A statistical measure of the variation in time it takes to provide a service to customers, often used in queuing theory to model and improve business processes.

Arrival Rate Distribution

In queuing theory, it is the probability distribution of the frequency at which entities arrive at a system to receive service.

Number of Phases

The distinct stages through which a process, project, or phenomenon passes.

Number of Channels

Refers to the methods or pathways through which a product or service is distributed from the manufacturer or provider to the consumer.