Metro Computer Company Had the Following Balances and Transactions During

question 27

Multiple Choice

Metro Computer Company had the following balances and transactions during 2016: $$\begin{array} { | l | l | } \hline \text { Beginning inventory } & 280 \text { units at } \$ 71 \\\hline 10 \text { March } & \text { Sold } 70 \text { units } \\\hline 10 \text { June } & \text { Purchased } 1120 \text { units at } \$ 78 \\\hline 30 \text { October } & \text { Sold } 100 \text { units } \\\hline\end{array}$$ What would the company's ending inventory amount be on 31 December 2016 if the perpetual last-in,first-out costing method is used?

• A)$94,470
• B)$87,360
• C)$19,880
• D)$107,240

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Definitions:

Shareholder Proposals

Suggestions or demands submitted by shareholders for consideration and vote at a company's annual meeting.

Securities

Financial instruments representing ownership (stocks), a debt agreement (bonds), or rights to ownership (derivatives) that can be bought or sold.

Pre-Filing Period

The time frame before the official submission of a document or application, often involving preparation or preliminary steps.

Solicitation

The act of requesting or seeking to obtain something, often used in legal contexts to refer to the act of seeking to procure business, services, or responses.