Use the Following Information for the Following Questions:
Windsor Ltd $\quad 240$

question 23

Multiple Choice

Use the following information for the following questions:
Windsor Ltd. uses FIFO to cost its inventory. The following information is available for Windsor's inventory of product # 205:
Beginning inventory: $\quad 240$ units $@ \$ 5.28$ per unit
March 1: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Purchase of 500 units $@ \$ 5.00$ per unit
April 10: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Sale of 200 units $@ \$ 10.20$ per unit
-Assuming Windsor uses the periodic inventory system, the entry to account for the March 1 purchase is

• A) debit Inventory and credit Accounts Payable, $3,500.
• B) debit Purchases and credit Accounts Payable, $3,500.
• C) debit Accounts Payable and credit Purchases, $3,500.
• D) debit Accounts Payable and credit Inventory, $3,500.

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Definitions:

Company Culture

The shared values, beliefs, behaviors, and practices that characterize an organization and its employees.

Ground Rules

Basic guidelines or agreed-upon rules that dictate the behavior or operations within a particular context or group activity.

Longer Breaks

Extended periods of rest or downtime, longer than the usual or scheduled pauses during work or activities.

Ignoring Conflicts

The act of disregarding or neglecting disagreements and disputes instead of addressing or resolving them.