Given the Following Inventory Activity, What Is Ending Inventory Using

question 21

Multiple Choice

Given the following inventory activity, what is ending inventory using the perpetual FIFO costing method? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)

• A)90 units at $4.75
• B)80 units @ $6.50 and 10 units @ $4.75
• C)45 units @ $6.50 and 30 units @ $3.00 and 15 units @ $4.75
• D)85 units @ $6.50 and 5 units @ $3.00

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Definitions:

War Bonds

Securities issued by a government to finance military operations during times of war, encouraging citizens to lend money with the promise of repayment with interest.

Union Generals

Military leaders who commanded the Union armies during the American Civil War, fighting against the Confederate states.

North's Favor

A term that might refer to preferences, advantages, or policies that benefit the northern regions or entities, specifically in a historical or political context. NO

Sherman

General William Tecumseh Sherman, a key Union general during the American Civil War, known for his "March to the Sea" and scorched earth policies.