Use the Information Below to Answer the Following Questions ?
-The Firm Uses the Periodic System, and There Are

question 78

Multiple Choice

Use the information below to answer the following questions.
The following lots of a particular commodity were available for sale during the year:
?
$\begin{array}{ll}\text { Beginning inventory } & 10 \text { units at } \$ 30 \\\text { First purchase } & 25 \text { units at } \$ 32 \\\text { Second purchase } & 30 \text { units at } \$ 34 \\\text { Third purchase } & 10 \text { units at } \$ 35\end{array}$ ?
-The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method?

• A) $655
• B) $620
• C) $690
• D) $659

---

Definitions:

Scripts

Predefined sequences of actions or behaviors that individuals follow in specific situations.

Cry

A physical response involving shedding tears in reaction to an emotional state, such as sadness, happiness, or pain.

Cook

The process of preparing food by combining, mixing, and heating ingredients.

Clean Houses

An idiom referring to the act of making significant changes or improvements, often by removing ineffective elements or people.