Santa Fe Tile Company Had the Following Inventory Purchases and Sales

question 42

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. 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:

Excessive Acquisition Of Objects

The compulsive gathering of items to the point where it negatively impacts one's life, often related to hoarding behavior.

Obsessive-Compulsive Disorder

A mental health disorder characterized by intrusive thoughts (obsessions) that elicit distress and repetitive behaviors or mental acts (compulsions) aimed at reducing the distress.

Negative

Describing an attitude, condition, or behavior characterized by opposition or a lack of positivity.

Intrusive Thoughts

Unwanted and often distressing thoughts or images that spontaneously appear in a person's mind.