Jacob,Inc.had the Following Balances and Transactions During 2019

question 46

Multiple Choice

Jacob,Inc.had the following balances and transactions during 2019:

What is the amount of the company's ending Merchandise Inventory,as disclosed in the December 31,2019 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)$109
• B)$89
• C)$326
• D)$808

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Definitions:

Process Costing

An accounting method used to allocate costs to units of product in continuous, homogeneous production processes.

Department A

A specific segment or division within an organization that focuses on a particular set of tasks or responsibilities.

Equivalent Units

A concept in cost accounting used to equate units of production in various stages of completion to a number of fully completed units.

Direct Labour

This refers to the work done by employees who directly contribute to the manufacturing or production process of a company's goods or services.