Klump Co Klump Co

question 9

Multiple Choice

Klump Co. Klump Co.uses a perpetual inventory system and had the following inventory transactions for the month of June.

-Refer to the information provided for Klump Co.If the company uses the FIFO inventory costing method,the amount of ending inventory reported on the balance sheet is:

• A)$1,800.00
• B)$1,810.00
• C)$1,823.75
• D)$1,825.00

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Definitions:

Four-Figure Accuracy

A level of precision in numerical computation where the result is rounded to four significant digits.

Five-Figure Accuracy

Describes precision to five significant digits in numerical representation, ensuring a high degree of accuracy in calculations or measurements.

Accurate

Precisely correct, exact, or without error.

Cent

A monetary unit that is equal to one hundredth of the basic unit of currency in many countries, including the United States.