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

question 77

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 weighted average method,what is the cost of its ending inventory (rounded to the nearest dollar) ?

• A)$38
• B)$48
• C)$67
• D)$75

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Definitions:

Commercial Speech

Speech made by businesses about commercial matters, such as the sale of goods and services. It is protected by the First Amendment.

Strict-scrutiny Standard

A form of judicial review that courts use to determine the constitutionality of certain laws by ensuring they serve a compelling governmental interest and are narrowly tailored to achieve their goal.

Laws Examination

A test or series of tests evaluating an individual’s knowledge or competence in areas of law, often as part of legal education or certification.

Presumption

An assumption taken as true until evidence is presented to the contrary, often used in legal contexts to shift the burden of proof.