Metro Computer,Inc

question 158

Multiple Choice

Metro Computer,Inc.had the following balances and transactions during 2017:

What would the company's ending merchandise inventory amount be on December 31,2017 if the perpetual inventory system and the last-in,first-out inventory costing method are used?

• A)$15,600
• B)$74,400
• C)$58,800
• D)$57,600

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Definitions:

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Normal Distribution

A probability distribution that is symmetrically centered around its mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Acres

A unit of land area used primarily in the US, equal to 4,840 square yards or approximately 4,047 square meters.

Bushels

A unit of volume that is commonly used in agriculture to measure quantities of grain, fruit, or other produce.