Use This Inventory Information for the Month of September to Answer

question 78

Multiple Choice

Use this inventory information for the month of September to answer the following question. $\begin{array}{llll}\text { Sept. } & 1 & \text { Beginning inventory } & 10 \text { units @ } \$ 120 \\& 5 & \text { Purchase } & 60 \text { units @ } \$ 112 \\& 14 & \text { Sale } & 40 \text { units }\\&21& \text { Purchase } &30 \text { units @\$116 }\\&30 &\text { Sale }& 28 \text { units } \end{array}$
Assuming that a perpetual inventory system is used,what is ending inventory on a FIFO basis?

• A) $3,704
• B) $7,696
• C) More information is needed.
• D) $3,664

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Definitions:

Alpine Lake

A high-altitude lake, typically found in mountainous regions, formed in valleys carved by glaciers and known for its clear, cold waters.

Species Richness

A measure of the number of different species present in a specific ecological community or region.

National Forest

Federally designated areas of public lands managed for conservation, recreation, and extraction of resources like timber.

Grazed Pasture

Land covered with grass and other low plants suitable for livestock animals to feed on, typically managed through controlled grazing.