Samson Company Had the Following Balances and Transactions During 2013

question 11

Multiple Choice

Samson Company had the following balances and transactions during 2013. $$\begin{array} { | l | l | } \hline \text { Beginning inventory } & 10 \text { units at } \$ 70 \\\hline \text { March } 10 & \text { Sold } 8 \text { units } \\\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 80 \\\hline \text { October 30 } & \text { Sold } 15 \text { units } \\\hline\end{array}$$
-What would the company's Inventory amount be on the December 31,2013 balance sheet if the perpetual average-costing method is used? (Answers are rounded to the nearest dollar.)

• A) $537
• B) $554
• C) $490
• D) $560

---

Definitions:

Unlimited Capacity

A hypothetical concept suggesting that there's no upper limit to the amount of information the human brain can store.

Decades

Periods of ten years, often used to mark significant time intervals in history, research, and life events.

Episodic Memory

The type of long-term memory that involves the recollection of specific events, situations, and experiences, including the context and emotions associated with them.

Events

Occurrences or happenings, especially those significant enough to be remembered or noteworthy.