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

question 7

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 perpetual 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:

Osteocyte

A mature bone cell, surrounded by bone matrix, responsible for maintaining and monitoring the bone structure.

Hydroxyapatite

A naturally occurring mineral form of calcium apatite, which is the primary structural component of bone and teeth.

Organic Matrix

The non-mineral component of bone and teeth, composed mainly of collagen, which gives them structure and flexibility.

Heat

A form of energy that is transferred between systems or objects with different temperatures, flowing from the hotter system to the cooler one.