A Company Had Inventory on November 1 of 5 Units

question 143

Multiple Choice

A company had inventory on November 1 of 5 units at a cost of $20 each.On November 2,they purchased 10 units at $22 each.On November 6 they purchased 6 units at $25 each.On November 5,8 units were sold for $55 each.Using the Weighted Average perpetual inventory method,what was the value of the inventory on November 30?

• A)$304.00
• B)$404.00
• C)$299.33
• D)$280.00
• E)$276.00

---

Definitions:

Partial Melting

The process where only a portion of a solid mixture melts, resulting in the formation of magma with different composition from the original material.

Subduction

The process by which one tectonic plate moves under another plate and into the mantle, causing volcanic and seismic activity.

Normal Faulting

A type of faulting in which the hangwall moves downward relative to the footwall, often associated with tensional forces pulling the Earth's crust apart.

Volcanic Neck

A column of solidified lava or magma that formed in the vent of a volcano and became exposed through erosion.