Jacob Company Had the Following Balances and Transactions During 2019

question 106

Multiple Choice

Jacob Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise } & \\\text { Inventory } & 13 \text { units at } \$ 93 \\\hline \text { March 10 } & \text { Sold 11 units } \\\hline \text { Iune 10 } & \text { Purchased 26 units at } \$ 89 \\\hline \text { October 30 } & \text { Sold 20 units } \\\hline\end{array}$$ 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) $116
• B) $89
• C) $289
• D) $723

---

Definitions:

Solute

A substance that is dissolved in a solvent to form a solution, typically the substance present in the smaller amount.

Vendor Managed Inventory

A supply chain initiative where the supplier is responsible for maintaining the client's inventory levels, ensuring that stock is replenished when required.

Disadvantage

A condition or situation that makes it more difficult for someone or something to succeed or achieve a desired outcome.

High Fashion Retailer

A business that sells clothing, accessories, or shoes that are of the latest design and highest quality.