Ronald,Inc What Is the Amount of the Company's Merchandise Inventory,as Disclosed

question 73

Multiple Choice

Ronald,Inc.had the following balances and transactions during 2017: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory } & 15 \text { units at } \$ 90 \\\hline \text { March } 10 & \text { Sold } 13 \text { units } \\\hline \text {June } 10 & \text { Purchased } 30 \text { units at } \$ 87 \\\hline \text { October 30 } & \text { Sold } 25 \text { units } \\\hline\end{array}$$ What is the amount of the company's Merchandise Inventory,as disclosed in the December 31,2017 balance sheet,using the periodic weighted-average inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar. )

• A)$104
• B)$87
• C)$373
• D)$616

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Definitions:

Apical Dominance

Effect in which a lengthening shoot tip inhibits the growth of lateral buds.

Auxin

A class of plant hormones involved in various aspects of plant growth and development, including cell elongation.

Hormone

Biological substances synthesized by glands in multicellular organisms, transported by the circulatory system to distant organs to regulate physiology and behavior.

Diploid

Refers to cells that have two sets of chromosomes, one from each parent.