Given the Following Information,determine the Cost of Ending Inventory at December

question 121

Multiple Choice

Given the following information,determine the cost of ending inventory at December 31 using the Weighted Average 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)$49.75
• E)$50.75

Understand the importance of property rights and government policies in economic development.

Recognize the role of foreign investment and domestic investment in a country's economic prosperity.

Assess the importance of real GDP per person and its growth rate in evaluating a nation’s economic prosperity.

Analyze historical economic growth trends among different nations.

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Definitions:

Payroll Tax

Contributions demanded from either employees or employers, frequently calculated based on the salaries that staff are awarded by their employers.

Personal Income Tax

A tax levied on an individual's total personal income, taking into account wages, salaries, and other sources of income.

Federal Government Spending

Expenditures by the federal government on goods, services, and obligations, including defense, welfare, and public works.

Federal Income Tax

A tax levied by the U.S. federal government on individuals and entities based on their annual income, with rates that vary by income level.