Metro Computer Company Had the Following Balances and Transactions During

question 30

Multiple Choice

Metro Computer Company had the following balances and transactions during 2016:
$$\begin{array} { | l | l | } \hline \text { Beginning inventory } & 280 \text { units at } \$ 71 \\\hline 10 \text { March } & \text { Sold } 70 \text { units } \\\hline 10 \text { June } & \text { Purchased } 1120 \text { units at } \$ 78 \\\hline 30 \text { October } & \text { Sold } 100 \text { units } \\\hline\end{array}$$
What would the company's ending inventory amount be on 31 December 2016 if the perpetual last-in,first-out costing method is used?

• A) $94,470
• B) $87,360
• C) $19,880
• D) $107,240

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Definitions:

Distinctive Aspect

A unique or characteristic feature that differentiates something or someone from others.

Classical Conditioning

A learning process through which associations are made between a natural stimulus and a neutral stimulus to elicit a behavior.

Observation

The action or process of closely monitoring or watching something or someone carefully in order to gain information.

Operant Behavior

Operant behavior involves actions that are controlled by their consequences, a concept fundamental to operant conditioning theories in psychology.