Williams Company Had the Following Balances and Transactions During 2013

question 31

Multiple Choice

Williams Company had the following balances and transactions during 2013. What would the company's inventory amount be on the December 31, 2013 balance sheet if the perpetual FIFO method is used? (Answers are rounded to the nearest dollar.)

• A)$1,200
• B)$900
• C)$1,050
• D)$1,100

---

Definitions:

Voltage Dropped

The reduction in electrical potential across a component or conductor as current passes through, indicative of resistance or load.

Control Circuit

An electrical circuit that controls the operation of a device, using signals or feedback to regulate the device's function.

Voltage Drop

The measurement of voltage lost through wiring, components, and connections due to electrical resistance.

Hydrometer

An instrument used to measure the density (specific gravity) of liquids.