Given the Following Information, Determine the Cost of Ending Inventory

question 184

Multiple Choice

Given the following information, determine the cost of ending inventory at December 31 using the FIFO perpetual inventory method. December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.

• A)$51.75
• B)$83.22
• C)$41.30
• D)$94.00
• E)$50.75

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Definitions:

Frequency Source

A device or system component that generates a signal of a specific frequency.

Capacitive Reactance

The opposition to the change in voltage across a capacitor, measured in ohms and varying with frequency.

Parallel Connection

An arrangement in electrical circuits where components are connected across common junction points, allowing each component to operate independently of the others.

Frequency Source

An electronic device or system that generates a repetitive signal of a fixed, specified frequency.