The Following Inventory Transactions Took Place for NPR Corporation for the Month

question 156

Multiple Choice

The following inventory transactions took place for NPR Corporation for the month of May: $\begin{array}{|l|l|c|c|}\hline \text { Date } & \text { Event } & \text { Quantity } & \text { Cost/Selling Price } \\\hline \text { May 1 } & \text { Beginning Inventory } & 1,000 & \$ 3.55 \\\hline \text { May 5 } & \text { Purchase } & 6,000 & 3.10 \\\hline \text { May 10 } & \text { Purchase } & 2,000 & 3.75 \\\hline \text { May 15 } & \text { Sale } & 3,000 & 6.00 \\\hline \text { May 20 } & \text { Sale } & 2,000 & 6.00 \\\hline \text { May 22 } & \text { Purchase } & 5,000 & 3.45 \\\hline \text { May 24 } & \text { Purchase } & 2,000 & 3.75 \\\hline \text { May 25 } & \text { Sale } & 7,000 & 6.00 \\\hline\end{array}$
The ending inventory balance for NPR Corporation, assuming the company uses a perpetual inventory system, and a first-in, first-out (FIFO) cost formula is

• A) $15,000.
• B) $14,400.
• C) $12,850.
• D) $13,800.

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Definitions:

Everything Connected

A concept referring to the interconnectedness of devices, systems, and services through the internet and other communication technologies.

Interdependent

Mutually reliant on each other; a situation where entities depend on one another for resources, support, or functioning.

Environmental Resistance

The sum of environmental factors that limit the growth, distribution, or population size of an organism.

Biotic Factors

Living components of an ecosystem, such as plants and animals, that influence the structure and function of the ecosystem.