Stallworth Corp -Refer to the Information Provided in the Figure Stallworth Corp

question 154

Multiple Choice

Stallworth Corp.
Stallworth Corp. uses a periodic inventory system. The following information is available for the month of November:
$$\begin{array} { l l r } \text { Nov. } & 1 \quad \text { On hand, } 50 \text { units at } \$ 15 \text { each } & \$ 750.00 \\5 & \text { Purchased, } 115 \text { units at } \$ 15.10 \text { each } & 1,736.50 \\16 & \text { Purchased, } 75 \text { units at } \$ 15.20 \text { each } & 1,140.00 \\& \text { Total cost of goods available for sale } & \$ 3,626.50 \\30 & \text { On hand, 100 units }\end{array}$$
-Refer to the information provided in the figure Stallworth Corp.If the company uses the FIFO inventory costing method,what amount will be assigned to the November 30 inventory?

• A) $1,505.00
• B) $1,517.50
• C) $2,109.00
• D) $2,121,50

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Definitions:

New England

New England is a region located in the northeastern part of the United States, comprising six states: Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut.

Potomac

A river in the Eastern United States, flowing into the Chesapeake Bay, and passing through Washington D.C.

Patriot Cause

The movement and ideological drive toward independence from British rule among the American colonies, particularly during the late 18th century.

Thomas Paine

A political activist and writer whose works, including "Common Sense" and "The American Crisis," were influential in the American Revolution and the promotion of democratic ideals.