The Firm Had a Beginning Inventory of 50 Units with a Unit

question 113

Multiple Choice

The firm had a beginning inventory of 50 units with a unit cost of $12. Purchases during the year were as follows: March-65 units with a unit cost of $13; July-60 units with a unit cost of $16. Assuming a periodic inventory system and the average cost method is used, the value of the ending inventory of 55 units is: (Round to two decimal places.)

• A)$660.00
• B)$1,648.80
• C)$755.70
• D)$720.00

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Definitions:

Diffusion

The process by which an innovation, idea, or trend spreads through a population or society.

Creative Deviance

The act of generating and implementing novel and unconventional ideas or solutions within an organizational setting, despite potential opposition.

Idea Champions

Individuals who actively support, promote, and ensure the adoption of new innovations or ideas within an organization.

Innovation

The process of creating, introducing, and applying new ideas, devices, or methods.