Biscuit Bakery Had the Following Activity in Its Inventory Account

question 61

Multiple Choice

Biscuit Bakery had the following activity in its inventory account during August 20X3. $\begin{array}{lllcc}\text { Date } & \text { Activity } & \text { Units } & \begin{array}{c}\text { Cost per } \\\text { Unit Cost }\end{array} & \text { Total } \\\hline \text { August 1 } & \text { Beginning inventory } & 100 & \$ 3.00 & \$ 300 \\\text { August 3 } & \text { Purchase } & 40 & 3.10 & 124 \\\text { August 7 } & \text { Sale } & 50 & & \\\text { August 12 } & \text { Purchase } & 50 & 3.20 & 160 \\\text { August 16 } & \text { Sale } & 70 & & \\\text { August 23 } & \text { Sale } & 40 & & \\\text { August 30 } & \text { Purchase } & 60 & 3.30 & 198\end{array}$ What is the ending inventory at August 31,20X3,for Biscuit Bakery if the company uses periodic weighted average as its inventory valuation method (round all calculations to the nearest penny) ?

• A)$281.70
• B)$285.60
• C)$290.22
• D)$290.70
• E)$294.00

---

Definitions:

Quantitative Research

Research that uses numerical analysis.

Hypotheses

Statements or propositions that are tested through research and experimentation to establish truth and validity within scientific studies.

Indirectly Stimulates

The process of affecting or influencing a system or process not by direct intervention, but through secondary or alternative methods.

Reward Center

The areas of the brain, particularly within the limbic system, that are involved in the sensation of pleasure and motivation, often activated by rewarding stimuli.