Williams Company Had the Following Balances and Transactions During 2013

question 52

Multiple Choice

Williams Company had the following balances and transactions during 2013. $$\begin{array} { | l | l | } \hline \text { Beginning inventory } & 10 \text { units at } \$ 70 \\\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 80 \\\hline \text { December } 30 & \text { Sold } 15 \text { units } \\\hline \text { December } 31 & \text { Replacement cost } \$ 60 \\\hline\end{array}$$ 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) $1,200
• B) $1,150
• C) $1,050
• D) $900

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Definitions:

Grammatical Morphemes

The smallest units of language that carry meaning and function to indicate tense, number, possession, and other grammatical aspects.

Relations

The way in which two or more concepts, objects, or people are connected; a thing's effect or relevance to another.

Vowels

Vowels are speech sounds produced without any significant constriction or blockage of airflow in the vocal tract, forming the nucleus of syllables in languages.

Protoimperative

A form of early child communication aimed at expressing needs or wants, such as reaching to be picked up.