Use the Following Information for the Following Questions:
the Following

question 120

Multiple Choice

Use the following information for the following questions:
The following information was available from the inventory records of Key Company for January:
$$\begin{array} { c l l l } & \text { Units } & \text { Unit Cost } & \text { Total Cost } \\\text { Balance at January } 1 & 3,000 & \mathbf { \$ 9 . 7 7 } & \mathbf { \$ 2 9 , 3 1 0 } \\\text { Purchase: } & & & \\\text { January } 6 & 2,000 & 10.30 & \mathbf { 2 0 , 6 0 0 } \\\text { January } 26 & 2,700 & 10.71 & \mathbf { 2 8 , 9 1 7 } \\\text { sales: } & & & \\\text { January } 7 & ( 2,500 ) & & \\\quad \text { January } 31 &\underline{( 4,200 ) } & &\\\text { Balance at January } &\underline{1,000}&& \end{array}$$
-Assuming that Key uses the periodic inventory system, what should the inventory be at January 31, using the weighted-average inventory method, rounded to the nearest dollar?

• A) $10,237
• B) $10,260
• C) $10,360
• D) $10,505

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Definitions:

Enrollment

The process of registering or signing up for membership, courses, services, or programs offered by organizations or institutions.

Cost to Provide

The total expenses incurred by a company to deliver a product or service to a customer.

Decision Tree Analysis

A decision-making tool that uses a tree-like model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.

Steps

The individual phases or actions taken in a process or procedure to achieve a particular end result.