Phoenix Ltd Sells Hard Disks of Similar Make and Model

question 5

Multiple Choice

Phoenix Ltd sells hard disks of similar make and model and reports an opening inventory on 1 July 2012 of 20 units purchased at $60.Its purchases during are as follows:
September 90 units @ $70
November 110 units @ $75
March 70 units @ $80
Phoenix Ltd sold 260 units during the year.
What is the cost of ending inventory using FIFO and weighted average method respectively (rounded to the nearest dollar) ?

• A) $2100; $2209
• B) $2100; $2250
• C) $2400; $2209
• D) $2400; $2250

---

Definitions:

Pseudoscience

A collection of beliefs or practices mistakenly regarded as being based on scientific method, lacking the rigorous methodology and empirical evidence of true science.

Personality Traits

Enduring characteristics that describe an individual's behavior, attitude, and emotions.

Phrenologist

A practitioner of phrenology, a now-discredited theory that linked the shape of an individual's skull with their personality traits and mental abilities.

Business-Owner

An individual who legally owns and operates a business, taking on financial risks with the aim of earning profits.