Duo Ltd Uses a Periodic Inventory System and Rounds the Average

question 17

Multiple Choice

Duo Ltd uses a periodic inventory system and rounds the average unit cost to the nearest dollar. The following data relates to Duo Ltd for the year ended 30 June 2013:
Opening inventory 15 units @ average cost of $25 each
January purchases 10 units @ $24 each
July purchases 25 units @ $26 each
October purchases 20 units @ $24 each
Ending inventory 20 units
The cost of ending inventory using the weighted average cost method (rounded to the nearest dollar) is:

• A) $459
• B) $465
• C) $499
• D) $483

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Definitions:

Conscientiousness

A characteristic that denotes a person's tendency towards meticulousness, thoroughness, and a commitment to performing duties effectively.

Complex Pattern

A sophisticated or intricate arrangement of elements that forms a unified whole, often challenging to understand or solve.

Job Specific Attitudes

The feelings or perspectives that employees have regarding aspects of their work, including tasks, work environment, or responsibilities.

Anxious

Describes a feeling of worry, nervousness, or unease about something with an uncertain outcome.