RJ Corporation Has Provided the Following Information About One of Their

question 27

Multiple Choice

RJ Corporation has provided the following information about one of their inventory items:


$$\begin{array}{ll}\begin{array} { ll } \text { Date } & \text { Transaction } \\1 / 1 & \text { Beginning Inventory } \\6 /6& \text { Purchase } \\9 / 10 & \text { Purchase } \\11/ 15 & \text { Purchase }\end{array}\begin{array} { l l} \text { Number of Units } & \text { Cost per Unit } \\400& \$ 3,200 \\800 & \$ 3,600 \\1,200 & \$ 4,000 \\800 & \$ 4,200\end{array}\end{array}$$
During the year,3,000 units were sold. What was ending inventory using the FIFO cost flow assumption?

• A)$640,000
• B)$840,000
• C)$960,000
• D)$880,000

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Definitions:

Brightness

The perception of how luminous an object appears; the attribute of visual experience by which an area appears to emit more or less light.

Intensity

The degree of strength, force, or energy with which a phenomenon or a reaction occurs.

Perception

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Trichromatic Theory

A theory of color vision that proposes the human eye has three types of receptors with differing sensitivities to different light wavelengths, corresponding to red, green, and blue.