Bailey Company Uses a Periodic Inventory System and Its Inventory

question 106

Multiple Choice

Bailey Company uses a periodic inventory system and its inventory records contain the following information:

The company sold 1,000 units during June.There were no additional purchases or sales during the remainder of the year.The company had 500 units were in its ending inventory at the end of the year.
-Use the information above to answer the following question.If Bailey Company uses the FIFO costing method,what is the cost of its ending inventory?

• A) $1,494
• B) $2,290
• C) $2,580
• D) $2,706

---

Definitions:

Spontaneous Rapid Eye Movements

Involuntary eye movements that occur suddenly and are often associated with REM sleep, indicating brain activity during dreams.

EMDR

Eye Movement Desensitization and Reprocessing, a psychotherapy technique especially effective for treating post-traumatic stress disorder (PTSD) by using patient's rapid, rhythmic eye movements.

Therapeutic Relationship

The professional and collaborative bond between a therapist and client, which is essential for the effective delivery of therapy and client progress.

Mood Disorders

A category of mental disorders characterized by persistent disturbances in mood, such as depression or bipolar disorder.