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:

Original Investment

The initial amount of money put into a project, asset, or business venture, used as a basis for calculating returns and profits.

Commencement Of Production

The point at which a company begins manufacturing products or producing goods in a new or existing facility.

Total Costs Of Ownership

The comprehensive assessment of all costs associated with the purchase, operation, and maintenance of a good or service over its life cycle.

Suppliers

Companies or individuals that provide goods or services to another entity as part of a supply chain.