Use This Information to Answer the Following Question A Periodic Inventory System Is Used; Ending Inventory Is 150

question 20

Multiple Choice

Use this information to answer the following question. $\begin{array}{ll}\text { Beginning inventory } & 100 \text { units @\$8.00 } \\\text { Purchase-Oct. } & 200 \text { units } @ \$ 6.00 \\\text { Purchase-Dec. } & 100 \text { units } @ \$ 12.00\end{array}$
A periodic inventory system is used; ending inventory is 150 units.
What is ending inventory under the average-cost method?

• A) $900
• B) $1,050
• C) $1,350
• D) $1,200

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Definitions:

Method of Loci

A mnemonic technique that involves associating items to be remembered with specific physical locations.

Massed Practice

Massed Practice is a learning method where a skill or knowledge is practiced continuously without breaks, often leading to quick learning but poor retention over time.

Consolidation

The process by which memories become stable in the brain; involves strengthening of the neural network that represents the memory.

Episodic Memory

A type of long-term memory that involves recollection of specific events, situations, and experiences, including the time and place they occurred.