Alphabet Company,which Uses the Periodic Inventory Method,buys Different Letters for Resale.It

question 15

Multiple Choice

Alphabet Company,which uses the periodic inventory method,buys different letters for resale.It buys A through G in January at $4 per letter.It buys H through L at $6 per letter.It buys M through R in March at $7 per letter.It sells A,D,E,H,J and N in April. If the company uses the FIFO method,what is the cost of its ending inventory (rounded to the nearest dollar) ?

• A)$24
• B)$42
• C)$58
• D)$76

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Definitions:

National Union

A labor union that represents the interests of workers across an entire nation, across various industries or sectors.

Social Union

A type of union or group that focuses primarily on social activities, support, and engagement among its members, rather than on economic or political goals.

Craft Union

A type of union composed of workers who possess the same skills or trades.

Industrial Union

A type of union that includes the unskilled and semiskilled workers at a particular location.