Use This Information to Answer the Following Question A Periodic Inventory System Is Used

question 135

Multiple Choice

Use this information to answer the following question. $\begin{array}{llll}\text { Feb. } & 1 & \text { Inventory } & 200 \text { units @ } \$ 6.00 \\& 6 & \text { Purchase } & 300 \text { units } @ \$ 6.60\\&13 & \text { Purchase } & 100 \text { units } @ \$ 7.20 \\&20 & \text { Purchase } & 200 \text { units } @ \$ 7.80 \\&25 & \text { Purchase } & 40 \text { units @ } \$ 8.40 \\&&\text { Total sales }& 620 \text { units }\end{array}$

A periodic inventory system is used.
Using the specific identification method and assuming that 50 of the items left are from the February 13 purchase and the rest are from the February 20 purchase,the cost assigned to ending inventory is

• A) $1,920.
• B) $1,656.
• C) $1,686.
• D) $1,588.

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Definitions:

Sympathetic

Part of the autonomic nervous system involved in the body's fight or flight response, preparing the body for rapid action in response to a threat.

Sympathetic Nervous System

A part of the autonomic nervous system that activates the 'fight or flight' response, increasing heart rate, dilating pupils, and preparing the body for action.

Parasympathetic

Part of the autonomic nervous system responsible for conserving energy and facilitating rest and digestion processes.

Somatic

Relating to the body, especially as distinct from the mind or psyche.