The Following Lots of Commodity Z Were Available for Sale

question 40

Multiple Choice

The following lots of Commodity Z were available for sale during the year. Use this information to answer the questions that follow.
$$\begin{array} { l l } \text { Beginning inventory } & 10 \text { units at } \$ 30 \\\text { First purchase } & 25 \text { units at } \$ 32 \\\text { Second purchase } & 30 \text { units at } \$ 34 \\\text { Third purchase } & 10 \text { units at } \$ 35\end{array}$$ ​
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-The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year rounded to nearest dollar according to the average cost method?

• A) $655
• B) $620
• C) $690
• D) $659

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Definitions:

Bipolar I Disorder

A mental health condition characterized by extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

Bipolar II Disorder

A mood disorder characterized by a pattern of depressive episodes and hypomanic episodes, but not the full-blown manic episodes associated with Bipolar I Disorder.

Cyclothymic Disorder

A mood disorder characterized by chronic, fluctuating mood disturbances involving periods of hypomania and depressive symptoms.

Discrimination

Unfair or prejudicial treatment of individuals based on their race, gender, age, or other criteria rather than individual merit.