Santa Fe Tile Company Had the Following Inventory Purchases and Sales

question 37

Multiple Choice

Santa Fe Tile Company had the following inventory purchases and sales during the month of May.The company uses the periodic inventory method. $$\begin{array} { | c | c | c | c | c | c | c | } \hline & \text { Purchases } & & & \text { Sales } & & \\\hline \text { Date } & \text { Units } & \text { Unit Cost } & \text { Total } & \text { Units } & \text { Unit Price } & \text { Total } \\\hline \text { May 1 } & 100 & \$ 4 & \$ 400 & & & \\\hline 5 & 200 & 5 & 1,000 & & & \\\hline 10 & & & & 100 & \$ 10 & \$ 1,000 \\\hline 15 & 100 & 6 & 600 & & & \\\hline 20 & 150 & 7 & 1,050 & & & \\\hline 25 & & & & 200 & 11 & \$ 2,200 \\\hline 30 & 160 & 8 & 1,280 & & & \\\hline & 710 & & \$ 4,330 & 300 & & \$ 3,200 \\\hline\end{array}$$
- If Santa Fe uses FIFO costing,how much was the Ending inventory balance?

• A) $2.980
• B) $3,120
• C) $2,200
• D) $2,930

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Definitions:

Microorganisms

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Immune Response

The body's defense mechanism against pathogens, including both the innate immune response and the adaptive immune response involving antibodies and white blood cells.

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Refers to an infant who is within the first few hours to weeks of life.

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A type of white blood cell that is an essential component of the immune system.