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

question 94

Multiple Choice

Use this information to answer the following question. $\begin{array}{rlrl}\text { Feb. }&1 & \text { Inventory } & 200 \text { units @ } \$ 6.00 \\&6 & \text { Purchase } & 300 \text { units @ } \$ 6.60 \\&13 & \text { Purchase } & 100 \text { units @ } \$ 7.20 \\&20 & \text { Purchase } & 200 \text { units @ } \$ 7.80 \\&25 & \text { Purchase } & 40 \text { units @ } \$ 8.40 \\&& \text { Total sales } & 620 \text { units }\end{array}$
A periodic inventory system is used.
Using the average-cost method,the cost assigned to ending inventory is

• A) $4,278.
• B) $1,518.
• C) $1,692.
• D) $1,584.

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Definitions:

Battery Drain

A condition where a vehicle or device's battery loses charge due to electrical devices consuming power, often when the engine or main power source is off.

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Devices or components in an electrical circuit that consume electric power, such as lights, appliances, and machines.

Average Accounting Return

A measure of the profitability of an investment, calculated as the average annual net income divided by the average investment.

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The concept in finance that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.