Alphabet Company,which Uses the Periodic Inventory Method,purchases Different Letters for Resale.Alphabet

question 150

Multiple Choice

Alphabet Company,which uses the periodic inventory method,purchases different letters for resale.Alphabet had no beginning inventory.It purchased A thru G in January at $4 per letter.In February,it purchased H thru L at $6 per letter.It purchased M thru R in March at $7 per letter.It sold A,D,E,H,J and N in October.There were no additional purchases or sales during the remainder of the year. If Alphabet Company uses the specific identification method,what is the cost of its ending inventory?

• A)$31
• B)$69
• C)$76
• D)$100

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Definitions:

SELL Sequence

A structured approach to selling, emphasizing steps like Show, Explain, Lead, and Lock.

Promotional Device

Any tool or strategy used to promote a product, service, or brand to increase visibility and drive sales or engagement.

Evaluate Products

The process of examining and assessing the features, quality, and performance of products to inform purchasing decisions or product development.

Psychological Factors

Psychological factors are internal influences on a consumer's behavior, including attitudes, perceptions, and motivations.