A Company Had the Following Purchases and Sales During Its

question 29

Multiple Choice

A company had the following purchases and sales during its first year of operations: $$\begin{array} { | l | l | l | } \hline & \text { Purchases } & \text { Sales } \\\hline \text { January. } & 10 \text { units at } \$ 120 & 6 \text { units } \\\hline \text { February. } & 20 \text { units at } \$ 125 & 5 \text { units } \\\hline \text { May. } & 15 \text { units at \$130 } & 9 \text { units } \\\hline \text { September: } & 12 \text { units at \$135 } & 8 \text { units } \\\hline \text { November: } & 10 \text { units at } \$ 140 & 13 \text { units } \\\hline\end{array}$$ On December 31, there were 26 units remaining in ending inventory.
-Using the Periodic FIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

• A) $3,405.
• B) $3,270.
• C) $3,200.
• D) $3,445.
• E) $3,540.

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Definitions:

Separate Workers

The process or policy of keeping workers apart from each other, possibly based on roles, tasks, or certain conditions.

Abdication

The act of formally relinquishing responsibility or authority over something.

Managerial Authority

The power vested in managers and executives to make decisions, direct teams, and oversee the operations within an organization.

Job Depth

The degree of control, creativity, and responsibility an employee has in their job.