Figure 5-9

question 6

Multiple Choice

Figure 5-9.Warwick Company has the following transactions for the month of September:
Balances at the beginning of the month were:

-Refer to Figure 5-9. Calculate the Ending Balance of Raw Materials.

• A) $220,384
• B) $151,582
• C) $185,320
• D) $22,760
• E) 91,562

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Definitions:

Inventory Balance

The total value of all inventory items held by a company at the end of a reporting period, including raw materials, work-in-progress, and finished goods.

Specific Identification

An inventory costing method where each item in inventory is individually tracked and valued at its specific cost.

Inventory Costing

Inventory costing is the method used to assign costs to inventory, affecting how cost of goods sold and inventory values are calculated.

Gordon's Jewelers

A jewelry retailer known for selling a variety of jewelry items, often focusing on diamond and fine jewelry.