The Following Units of an Inventory Item Were Available for Sale

question 79

Multiple Choice

The following units of an inventory item were available for sale during the year. Use this information to answer the following questions.
$$\begin{array} { l l } \text { Beginning inventory } & 10 \text { units at } \$ 55 \\\text { First purchase } & 25 \text { units at } \$ 60 \\\text { Second purchase } & 30 \text { units at } \$ 65 \\\text { Third purchase } & 15 \text { units at } \$ 70\end{array}$$ The firm uses the periodic inventory system. During the year, 60 units of the item were sold.
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-The ending inventory cost rounded to nearest dollar using average cost is:

• A) $1,353
• B) $1,263
• C) $1,375
• D) $1,150

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Definitions:

Leadership Development

The process of enhancing an individual's ability to lead, manage, and guide others within an organization.

Workforce Planning

The process of analyzing, forecasting, and planning workforce supply and demand, assessing gaps, and determining targeted interventions to ensure an organization can meet its goals and objectives.

Downsizing

Activities undertaken to improve organizational efficiency, productivity, and/or competitiveness that affect the size of the firm's workforce, its costs, and its work processes.

Laying Off Employees

The act of temporarily or permanently removing employees from their positions, often due to economic downturns or organizational restructuring.