Rodriguez,Inc

question 149

Multiple Choice

Rodriguez,Inc.had the following balances and transactions during 2017,from January 1 to December 31:

What would be reported for Ending Merchandise Inventory on the balance sheet at December 31,2017 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round unit costs to two decimal places and total costs to nearest dollar. )

• A)$33,040
• B)$16,200
• C)$32,400
• D)$48,600

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Definitions:

Eligibility Requirements

Criteria that must be met in order to qualify for a specific program, service, or status.

Nonexchange Transactions

Transactions where an entity receives value without directly giving or promising equivalent value in exchange.

Reimbursement

Compensation paid to someone for out-of-pocket expenses they have incurred.

Internal Service Fund

A proprietary fund in governmental accounting used to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement basis.