Use This Inventory Information for the Month of May to Answer

question 22

Multiple Choice

Use this inventory information for the month of May to answer the following question. $\begin{array}{rlll}\text { May } &1& \text { Beginning inventory } & 20 \text { units @ } \$ 76 \\&7 & \text { Purchase } & 70 \text { units @ } \$ 80 \\&18 & \text { Sale } & 25 \text { units } \\&22 & \text { Purchase } & 10 \text { units @ } \$ 88 \\&29 & \text { Sale } & 40 \text { units }\end{array}$
Assuming that a periodic inventory system is used,what is ending inventory (rounded) under the average-cost method?

• A) $5,200
• B) $5,288
• C) $2,848
• D) $2,800

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Definitions:

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Frameworks in psychology that focus on understanding how people process, store, and retrieve information and how these cognitive processes influence behavior and emotions.