Phoenix Ltd Sells Hard Disks of Similar Make and Model

question 41

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) $2,100; $2,209
• B) $2,100; $2,250
• C) $2,400; $2,209
• D) $2,400; $2,250
• E) E: None of the given answers.

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Definitions:

Barriers To Entry

Barriers to entry are obstacles that make it difficult for new competitors to enter a market, including high costs, strict regulations, and established brand loyalty.

Market Price

The current price at which an asset or service can be bought or sold in the open market.

Price Discrimination

A pricing strategy where identical or substantially similar products or services are sold at different prices by the same provider in different markets.

Senior Citizen Discounts

Price reductions or special offers given to elderly consumers, typically those aged 65 and older, as a form of financial relief or incentive.