Use This Information to Answer the Following Question

question 71

Multiple Choice

Use this information to answer the following question.
A periodic inventory system is used.
-Using the average-cost method,the cost assigned to ending inventory is

• A)$3,036.
• B)$3,168.
• C)$3,384.
• D)$8,556.

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Definitions:

Equilibrium Price

The price level at which the supply of goods matches the demand for goods.

Equilibrium Price

The price point at which the quantity of goods supplied equals the quantity demanded, resulting in market stability.

Market Price

The current price at which an asset or service can be bought or sold in a given market.

Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded.